Great Lakes Advisors LLC Sells 712 Shares of Ameriprise Financial, Inc. $AMP

Great Lakes Advisors LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 9.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 7,078 shares of the financial services provider’s stock after selling 712 shares during the quarter. Great Lakes Advisors LLC’s holdings in Ameriprise Financial were worth $3,426,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AMP. Brighton Jones LLC grew its position in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares during the period. Balyasny Asset Management L.P. bought a new position in Ameriprise Financial during the fourth quarter valued at $633,000. Graham Capital Management L.P. purchased a new stake in Ameriprise Financial in the fourth quarter worth $775,000. Gotham Asset Management LLC raised its stake in shares of Ameriprise Financial by 10.6% in the fourth quarter. Gotham Asset Management LLC now owns 1,884 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 180 shares during the period. Finally, Group One Trading LLC grew its stake in shares of Ameriprise Financial by 178.0% during the 4th quarter. Group One Trading LLC now owns 278 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 178 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.3%

Ameriprise Financial stock opened at $491.77 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock has a market cap of $46.36 billion, a P/E ratio of 15.30, a PEG ratio of 1.05 and a beta of 1.27. The firm’s fifty day moving average price is $517.49 and its 200-day moving average price is $503.42.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $8.72 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research reports. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial boosted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $534.71.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.