Nations Financial Group Inc. IA ADV Sells 60 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Nations Financial Group Inc. IA ADV lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,227 shares of the financial services provider’s stock after selling 60 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Ameriprise Financial were worth $2,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter worth about $514,539,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Ameriprise Financial in the 1st quarter worth about $108,938,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP traded up $6.29 on Friday, hitting $449.26. 463,756 shares of the company’s stock traded hands, compared to its average volume of 482,090. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35. The firm’s 50-day moving average price is $427.17 and its two-hundred day moving average price is $423.78. The firm has a market capitalization of $44.62 billion, a PE ratio of 15.30, a P/E/G ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last announced 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. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business 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 business posted $7.44 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. 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. Argus raised their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. UBS Group reduced their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Piper Sandler reduced their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $464.33.

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.