Securian Asset Management Inc. Decreases Stock Position in Ameriprise Financial, Inc. $AMP

Securian Asset Management Inc. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 44.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,526 shares of the financial services provider’s stock after selling 2,061 shares during the period. Securian Asset Management Inc.’s holdings in Ameriprise Financial were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after buying an additional 18,879 shares in the last quarter. Boston Partners grew its holdings in Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after buying an additional 13,172 shares in the last quarter. Federated Hermes Inc. increased its stake in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after acquiring an additional 219,080 shares during the last quarter. Legal & General Group Plc increased its stake in Ameriprise Financial by 11.5% in the 3rd quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider’s stock worth $311,655,000 after acquiring an additional 65,687 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Ameriprise Financial by 18.4% during the 3rd quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider’s stock worth $289,626,000 after acquiring an additional 91,697 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMP shares. Piper Sandler increased their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $543.22.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $470.70 on Wednesday. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.10 and a beta of 1.20. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The firm’s 50-day moving average is $454.46 and its 200 day moving average is $473.81. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 42.44 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is 16.91%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.