Angeles Investment Advisors LLC Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Angeles Investment Advisors LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,942 shares of the financial services provider’s stock after selling 151 shares during the period. Angeles Investment Advisors LLC’s holdings in Ameriprise Financial were worth $830,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Rathbones Group PLC lifted its holdings in shares of Ameriprise Financial by 8.6% in the 2nd quarter. Rathbones Group PLC now owns 1,827 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 145 shares during the last quarter. Plato Investment Management Ltd raised its position in Ameriprise Financial by 21.5% during the second quarter. Plato Investment Management Ltd now owns 6,790 shares of the financial services provider’s stock valued at $2,901,000 after purchasing an additional 1,202 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Ameriprise Financial by 17.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 698 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 105 shares during the last quarter. Prosperity Consulting Group LLC boosted its holdings in shares of Ameriprise Financial by 4.5% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,086 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Ameriprise Financial by 21.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,755 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 831 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, UBS Group cut their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One 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 data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $464.33.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $440.39 on Monday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The stock’s fifty day moving average price is $428.44 and its 200-day moving average price is $427.17. The firm has a market cap of $43.74 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. During the same quarter in the prior year, the business posted $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio 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.