Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 9.3% in the second quarter, HoldingsChannel.com reports. The firm owned 637 shares of the financial services provider’s stock after selling 65 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ameriprise Financial were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Savant Capital LLC boosted its holdings in Ameriprise Financial by 5.3% in the second quarter. Savant Capital LLC now owns 6,966 shares of the financial services provider’s stock valued at $2,976,000 after purchasing an additional 349 shares in the last quarter. Candriam S.C.A. boosted its holdings in Ameriprise Financial by 13.7% in the second quarter. Candriam S.C.A. now owns 90,880 shares of the financial services provider’s stock valued at $38,821,000 after purchasing an additional 10,942 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Ameriprise Financial by 11.0% in the second quarter. Parkside Financial Bank & Trust now owns 866 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 86 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Ameriprise Financial by 7.6% in the second quarter. Victory Capital Management Inc. now owns 239,203 shares of the financial services provider’s stock valued at $102,185,000 after purchasing an additional 16,845 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Ameriprise Financial by 11.7% in the second quarter. National Bank of Canada FI now owns 49,866 shares of the financial services provider’s stock valued at $21,241,000 after purchasing an additional 5,236 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $440.39 on Monday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $428.44 and a 200-day simple moving average of $427.17. The stock has a market capitalization of $43.74 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.44 earnings per share. Equities analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. UBS Group reduced their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $464.33.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.