Thrivent Financial for Lutherans Lowers Stake in Ameriprise Financial, Inc. $AMP

Thrivent Financial for Lutherans cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 356,896 shares of the financial services provider’s stock after selling 53,318 shares during the period. Thrivent Financial for Lutherans’ holdings in Ameriprise Financial were worth $190,468,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AMP. Whipplewood Advisors LLC grew its holdings in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the period. TD Capital Management LLC lifted its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at $29,000. Salomon & Ludwin LLC increased its holdings in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Finally, Winnow Wealth LLC purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMP. Royal Bank Of Canada decreased their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Wednesday. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. Finally, Evercore ISI decreased their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $493.79 on Friday. The stock’s 50-day simple moving average is $468.57 and its 200-day simple moving average is $497.20. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $45.88 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the previous year, the business earned $9.02 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

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.