Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 908,915 shares of the financial services provider’s stock after selling 40,010 shares during the period. Ameriprise Financial accounts for approximately 0.8% of LSV Asset Management’s holdings, making the stock its 22nd biggest position. LSV Asset Management owned approximately 0.91% of Ameriprise Financial worth $398,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $28,000. Annapolis Financial Services LLC boosted its stake in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 65 shares during the period. Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $32,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Ameriprise Financial during the 1st quarter worth about $34,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James assumed coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Argus boosted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $6.36 during midday trading on Friday, reaching $446.18. The company’s stock had a trading volume of 348,039 shares, compared to its average volume of 472,836. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $449.51. The company has a 50 day moving average price of $432.29 and a 200 day moving average price of $413.93. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the business earned $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 34.93 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

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.