Lake Street Advisors Group LLC Sells 65 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Lake Street Advisors Group LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,424 shares of the financial services provider’s stock after selling 65 shares during the period. Lake Street Advisors Group LLC’s holdings in Ameriprise Financial were worth $1,139,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Canal Capital Management LLC raised its position in Ameriprise Financial by 7.8% during the third quarter. Canal Capital Management LLC now owns 916 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 66 shares during the period. Ballentine Partners LLC boosted its stake in Ameriprise Financial by 9.6% during the third quarter. Ballentine Partners LLC now owns 2,206 shares of the financial services provider’s stock worth $1,036,000 after buying an additional 193 shares during the period. Impact Partnership Wealth LLC purchased a new position in Ameriprise Financial during the third quarter worth about $368,000. Great Lakes Retirement Inc. boosted its stake in shares of Ameriprise Financial by 0.9% in the third quarter. Great Lakes Retirement Inc. now owns 7,249 shares of the financial services provider’s stock valued at $3,406,000 after purchasing an additional 65 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Ameriprise Financial in the third quarter valued at approximately $456,890,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMP. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $482.11.

Ameriprise Financial Stock Up 0.0 %

NYSE:AMP opened at $504.39 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $50.10 billion, a PE ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $307.57 and a 52-week high of $524.89. The stock has a 50-day simple moving average of $465.77 and a 200 day simple moving average of $439.51.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $7.44 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.73% of the company’s stock.

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.