Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,870 shares of the financial services provider’s stock after selling 399 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Ameriprise Financial were worth $799,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Empirical Finance LLC increased its holdings in Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after purchasing an additional 113 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after acquiring an additional 73 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after acquiring an additional 4,203 shares during the period. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $775,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Ameriprise Financial by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMP. Piper Sandler dropped their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $449.44 on Monday. The stock has a market capitalization of $44.64 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. The business’s fifty day moving average price is $427.33 and its 200 day moving average price is $424.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $450.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

About Ameriprise Financial

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.