The Manufacturers Life Insurance Company Sells 2,457 Shares of Ameriprise Financial, Inc. $AMP

The Manufacturers Life Insurance Company cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,999 shares of the financial services provider’s stock after selling 2,457 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ameriprise Financial were worth $20,644,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC raised its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares during the period. Sivia Capital Partners LLC increased its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in Ameriprise Financial in the second quarter worth $313,000. Finally, Gabelli Funds LLC boosted its position in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.7%

AMP stock opened at $557.22 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The company has a fifty day moving average price of $544.61 and a two-hundred day moving average price of $487.82. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The stock has a market cap of $50.09 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $9.11 earnings per share. Equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 16.40%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMP shares. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley boosted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. 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 report on Monday, July 13th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn Brockman sold 472 shares of the firm’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 completion of the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Williams sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last 90 days. Insiders own 0.60% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.