DoubleLine ETF Adviser LP Sells 78 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

DoubleLine ETF Adviser LP reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,721 shares of the financial services provider’s stock after selling 78 shares during the period. DoubleLine ETF Adviser LP’s holdings in Ameriprise Financial were worth $735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Portside Wealth Group LLC raised its position in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 25 shares during the last quarter. Signaturefd LLC lifted its position in shares of Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Ameriprise Financial by 0.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 26 shares during the last quarter. Aua Capital Management LLC boosted its stake in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 27 shares during the last quarter. Finally, Gratus Wealth Advisors LLC raised its stake in Ameriprise Financial by 1.5% during the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after buying an additional 27 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMP shares. Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Finally, UBS Group cut their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $463.10 on Thursday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $467.00. The firm has a market capitalization of $45.47 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The firm has a fifty day simple moving average of $431.16 and a two-hundred day simple moving average of $429.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $7.44 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.28%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 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.