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

Comerica Bank decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,879 shares of the financial services provider’s stock after selling 1,974 shares during the quarter. Comerica Bank’s holdings in Ameriprise Financial were worth $22,830,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AMP. Jones Financial Companies Lllp raised its holdings in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after buying an additional 327 shares during the period. Czech National Bank grew its position in Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after acquiring an additional 1,033 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial during the fourth quarter worth about $43,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $399,000. Finally, Highland Capital Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $1,286,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Down 0.2 %

NYSE:AMP opened at $470.52 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market cap of $45.08 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50-day simple moving average of $482.67 and a 200-day simple moving average of $521.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the company posted $8.39 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has approved a share repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $509.67.

About Ameriprise Financial

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.