Thrivent Financial for Lutherans Has $219.89 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Thrivent Financial for Lutherans lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,815 shares of the financial services provider’s stock after selling 47,267 shares during the quarter. Ameriprise Financial makes up approximately 0.4% of Thrivent Financial for Lutherans’ holdings, making the stock its 29th biggest holding. Thrivent Financial for Lutherans owned approximately 0.43% of Ameriprise Financial worth $219,890,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $492.52 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $47.34 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The stock’s 50-day moving average price is $530.81 and its two-hundred day moving average price is $519.99. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMP. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

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.