Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Conning Inc.

Conning Inc. trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 98.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214 shares of the financial services provider's stock after selling 64,807 shares during the quarter. Conning Inc.'s holdings in Ameriprise Financial were worth $588,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. North Capital Inc. purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at about $174,000. D.A. Davidson & CO. lifted its stake in Ameriprise Financial by 6.5% in the first quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider's stock worth $2,140,000 after acquiring an additional 268 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Ameriprise Financial by 138.7% during the 1st quarter. Teacher Retirement System of Texas now owns 37,449 shares of the financial services provider's stock worth $18,129,000 after acquiring an additional 21,762 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $235,000. Finally, Arlington Trust Co LLC raised its holdings in shares of Ameriprise Financial by 12.7% in the 1st quarter. Arlington Trust Co LLC now owns 1,468 shares of the financial services provider's stock valued at $711,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMP shares. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $517.86.

Ameriprise Financial Stock Up 0.1%

Shares of NYSE AMP opened at $543.06 on Friday. The business has a 50-day moving average price of $509.70 and a 200 day moving average price of $511.32. The stock has a market cap of $51.71 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The company's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $8.39 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial Company 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.

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