First Hawaiian Bank Sells 1,047 Shares of Ameriprise Financial, Inc. $AMP

First Hawaiian Bank decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,229 shares of the financial services provider’s stock after selling 1,047 shares during the period. First Hawaiian Bank’s holdings in Ameriprise Financial were worth $2,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $31,000. TD Capital Management LLC raised its position in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter valued at approximately $29,000. Finally, WPG Advisers LLC bought a new position in Ameriprise Financial during the 1st quarter valued at approximately $33,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $497.15 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $46.87 billion, a P/E ratio of 15.47, a PEG ratio of 1.07 and a beta of 1.27. The stock’s 50 day moving average is $515.73 and its 200 day moving average is $503.05. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.72 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMP shares. Morgan Stanley lowered Ameriprise Financial from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $534.71.

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.