Loudon Investment Management LLC Has $2.51 Million Stake in Ameriprise Financial, Inc. $AMP

Loudon Investment Management LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.6% in the second quarter, Holdings Channel.com reports. The firm owned 4,695 shares of the financial services provider’s stock after selling 1,292 shares during the quarter. Ameriprise Financial comprises 1.4% of Loudon Investment Management LLC’s portfolio, making the stock its 25th biggest holding. Loudon Investment Management LLC’s holdings in Ameriprise Financial were worth $2,506,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Ameriprise Financial by 78.6% in the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after acquiring an additional 189,525 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $544.50.

Ameriprise Financial Stock Down 1.8%

Shares of NYSE:AMP opened at $490.50 on Wednesday. The company has a market capitalization of $46.24 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50-day moving average is $505.04 and its 200-day moving average is $502.19. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the firm posted $8.72 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.