Keybank National Association OH Sells 2,693 Shares of Ameriprise Financial, Inc. $AMP

Keybank National Association OH trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,204 shares of the financial services provider’s stock after selling 2,693 shares during the period. Keybank National Association OH owned 0.05% of Ameriprise Financial worth $20,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMP. State Street Corp boosted its holdings 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 valued at $2,171,360,000 after buying an additional 18,879 shares in the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $742,438,000. Boston Partners lifted its position in 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 lifted its position in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Ameriprise Financial by 0.7% during the fourth quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock worth $477,148,000 after acquiring an additional 6,934 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.1%

Shares of NYSE AMP opened at $488.68 on Friday. The firm’s 50 day moving average price is $461.75 and its 200-day moving average price is $472.50. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $43.93 billion, a PE ratio of 12.15, a P/E/G ratio of 1.02 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $9.50 earnings per share. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 43.01 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is 16.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMP. BMO Capital Markets raised their target price 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. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. Morgan Stanley boosted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Piper Sandler raised their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $543.22.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by insiders.

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.