Thrivent Financial for Lutherans Buys 37,966 Shares of Ameriprise Financial, Inc. $AMP

Thrivent Financial for Lutherans boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 334,786 shares of the financial services provider’s stock after acquiring an additional 37,966 shares during the period. Thrivent Financial for Lutherans’ holdings in Ameriprise Financial were worth $164,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Activest Wealth Management boosted its stake in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.6%

AMP opened at $472.04 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm’s fifty day moving average is $454.48 and its 200 day moving average is $473.69. The stock has a market cap of $42.44 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $9.50 EPS. Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.