Moran Wealth Management LLC Decreases Holdings in Ameriprise Financial, Inc. $AMP

Moran Wealth Management LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 68,051 shares of the financial services provider’s stock after selling 2,361 shares during the quarter. Ameriprise Financial accounts for approximately 0.9% of Moran Wealth Management LLC’s holdings, making the stock its 17th largest holding. Moran Wealth Management LLC’s holdings in Ameriprise Financial were worth $31,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Norges Bank purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $742,438,000. Boston Partners increased its position in shares of Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after buying an additional 13,172 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after buying an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock worth $455,387,000 after buying an additional 19,731 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE:AMP opened at $570.06 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The stock’s fifty day simple moving average is $507.03 and its 200-day simple moving average is $480.30. The company has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.11 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. BMO Capital Markets upped their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Insider Activity

In other news, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 over the last quarter. 0.60% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.