Thrivent Financial for Lutherans Sells 47,267 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Thrivent Financial for Lutherans decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 412,815 shares of the financial services provider’s stock after selling 47,267 shares during the period. Ameriprise Financial comprises about 0.4% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 29th biggest position. Thrivent Financial for Lutherans’ holdings in Ameriprise Financial were worth $219,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $36,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

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

Ameriprise Financial Price Performance

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

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analyst Ratings Changes

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

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.