Deutsche Bank AG Sells 109,171 Shares of Ameriprise Financial, Inc. $AMP

Deutsche Bank AG decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 12.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 798,290 shares of the financial services provider’s stock after selling 109,171 shares during the period. Deutsche Bank AG’s holdings in Ameriprise Financial were worth $366,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its position in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after buying an additional 18,879 shares during the period. Norges Bank acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $742,438,000. Boston Partners lifted its position in shares of Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after acquiring an additional 13,172 shares during the period. AQR Capital Management LLC boosted its stake in Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock worth $455,387,000 after acquiring an additional 19,731 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMP. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler boosted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $555.33.

Insiders Place Their Bets

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Down 1.4%

NYSE AMP opened at $561.83 on Tuesday. The stock has a market capitalization of $50.51 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.77 and a beta of 1.14. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. 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 business’s fifty day moving average is $509.29 and its 200-day moving average is $480.60.

Ameriprise Financial (NYSE:AMP) last announced 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. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the company earned $9.11 earnings per share. Ameriprise Financial’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be 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 is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.