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

BlackRock Inc. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,935,137 shares of the financial services provider's stock after selling 690,810 shares during the period. BlackRock Inc. owned approximately 8.83% of Ameriprise Financial worth $3,640,323,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMP. SouthState Bank Corp increased its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth $28,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $32,000. Finally, Prosperity Bancshares Inc acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.2%

Shares of NYSE:AMP opened at $562.89 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a market cap of $50.60 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50 day simple moving average of $511.57 and a 200 day simple moving average of $481.04.

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. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial's dividend payout ratio is presently 16.40%.

Insider Activity

In related news, CFO Walter Stanley Berman sold 11,012 shares of the business'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 completion of the transaction, the chief financial officer owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

AMP has been the topic of a number of recent research reports. Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ameriprise Financial has a consensus rating of "Moderate Buy" and an average price target of $555.33.

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.

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