Thrivent Financial for Lutherans Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

Thrivent Financial for Lutherans reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,815 shares of the financial services provider's stock after selling 47,267 shares during the period. Ameriprise Financial accounts for 0.4% of Thrivent Financial for Lutherans' portfolio, making the stock its 29th largest position. Thrivent Financial for Lutherans owned approximately 0.43% of Ameriprise Financial worth $219,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after buying an additional 327 shares in the last quarter. Czech National Bank increased its stake in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after purchasing an additional 1,033 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock valued at $3,768,000 after purchasing an additional 1,329 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $43,000. 83.95% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

AMP stock traded up $0.33 on Friday, hitting $493.41. The company had a trading volume of 1,409,453 shares, compared to its average volume of 459,068. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock's 50-day simple moving average is $528.03 and its 200 day simple moving average is $520.24. The stock has a market cap of $47.43 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their target price 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 decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average 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.