Park Avenue Securities LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Park Avenue Securities LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,258 shares of the financial services provider’s stock after selling 645 shares during the quarter. Park Avenue Securities LLC’s holdings in Ameriprise Financial were worth $8,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Trust Point Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $264,000. Private Trust Co. NA boosted its stake in Ameriprise Financial by 11.2% during the fourth quarter. Private Trust Co. NA now owns 657 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 66 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth about $355,000. Stratos Wealth Partners LTD. increased its stake in shares of Ameriprise Financial by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 33 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Ameriprise Financial by 1.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 48,977 shares of the financial services provider’s stock valued at $18,396,000 after purchasing an additional 828 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMP shares. UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley cut their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $464.33.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $2.81 during mid-day trading on Wednesday, reaching $392.76. The company’s stock had a trading volume of 625,463 shares, compared to its average volume of 491,518. The firm’s fifty day moving average price is $428.86 and its two-hundred day moving average price is $420.13. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The stock has a market cap of $39.01 billion, a P/E ratio of 13.46, a PEG ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $7.44 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be issued a dividend of $1.48 per share. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.51%. Ameriprise Financial’s payout ratio is 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.