Securian Asset Management Inc. Sells 2,061 Shares of Ameriprise Financial, Inc. $AMP

Securian Asset Management Inc. reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 44.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,526 shares of the financial services provider’s stock after selling 2,061 shares during the quarter. Securian Asset Management Inc.’s holdings in Ameriprise Financial were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMP. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC raised its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Ameriprise Financial during the second quarter valued at $313,000. Finally, Gabelli Funds LLC lifted its stake in Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after acquiring an additional 2,922 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 1.5%

Shares of Ameriprise Financial stock opened at $470.70 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $42.32 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.10 and a beta of 1.20. The company has a fifty day moving average of $454.46 and a 200 day moving average of $473.81.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $9.50 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $543.22.

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.