Amundi Decreases Stock Holdings in Ameriprise Financial, Inc. $AMP

Amundi lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 362,480 shares of the financial services provider's stock after selling 89,746 shares during the period. Amundi owned approximately 0.40% of Ameriprise Financial worth $166,291,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System grew its position in Ameriprise Financial by 47,323.5% in the second quarter. California State Teachers Retirement System now owns 63,911,691 shares of the financial services provider's stock worth $29,320,127,000 after acquiring an additional 63,776,923 shares in the last quarter. State Street Corp boosted its stake in Ameriprise Financial by 0.4% during 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 during the period. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter valued at $742,438,000. Boston Partners increased its position in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after acquiring an additional 13,172 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after acquiring an additional 496,319 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 0.7%

Shares of NYSE:AMP opened at $556.84 on Wednesday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The stock has a market cap of $50.06 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14. The business's 50 day moving average is $540.46 and its 200 day moving average is $486.18. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $9.11 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is currently 16.40%.

Insider Buying and Selling

In related news, CFO Walter Berman sold 11,012 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company's stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 over the last quarter. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings raised Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 3rd. Finally, Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Ameriprise Financial Profile

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.

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