Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,607 shares of the financial services provider’s stock after selling 75 shares during the period. First Hawaiian Bank’s holdings in Ameriprise Financial were worth $2,395,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empirical Finance LLC boosted its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 113 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Ameriprise Financial by 2.9% in the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after acquiring an additional 416 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ameriprise Financial by 0.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after buying an additional 73 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ameriprise Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after buying an additional 4,203 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Ameriprise Financial by 280.6% during the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after buying an additional 22,487 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley reduced their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Argus lifted their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $464.33.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 2.8 %

Shares of NYSE AMP traded down $11.08 during trading on Monday, reaching $391.53. The stock had a trading volume of 722,165 shares, compared to its average volume of 491,323. 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 business’s 50-day moving average price is $430.64 and its 200-day moving average price is $419.91. The company has a market cap of $38.89 billion, a P/E ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its 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. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.51%. Ameriprise Financial’s payout ratio is 20.15%.

Ameriprise Financial Company 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.