Lazard Asset Management LLC Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lazard Asset Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,555 shares of the financial services provider’s stock after selling 104 shares during the quarter. Lazard Asset Management LLC’s holdings in Ameriprise Financial were worth $5,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares in the last quarter. Norges Bank purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $514,539,000. Dimensional Fund Advisors LP lifted its stake in Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares in the last quarter. TD Asset Management Inc lifted its stake in Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Piper Sandler reduced their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group lifted their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $462.89.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.8 %

Ameriprise Financial stock opened at $436.20 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. The firm has a 50 day moving average price of $431.95 and a 200 day moving average price of $418.23. The company has a market capitalization of $43.32 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.44 earnings per share. Research analysts expect that Ameriprise Financial, Inc. will post 34.89 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Ameriprise Financial Profile

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.