Fifth Third Bancorp Has $3.30 Million Stock Position in Ameriprise Financial, Inc. $AMP

Fifth Third Bancorp reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,182 shares of the financial services provider’s stock after selling 122 shares during the quarter. Fifth Third Bancorp’s holdings in Ameriprise Financial were worth $3,300,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMP. Brighton Jones LLC raised its stake in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ameriprise Financial by 19.1% during the fourth quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider’s stock valued at $866,000 after purchasing an additional 261 shares during the period. Versant Capital Management Inc grew its holdings in Ameriprise Financial by 48.3% during the first quarter. Versant Capital Management Inc now owns 212 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 69 shares during the period. Moody National Bank Trust Division grew its holdings in Ameriprise Financial by 10.6% during the first quarter. Moody National Bank Trust Division now owns 553 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 53 shares during the period. Finally, Quent Capital LLC boosted its holdings in shares of Ameriprise Financial by 1.8% in the first quarter. Quent Capital LLC now owns 1,874 shares of the financial services provider’s stock worth $907,000 after acquiring an additional 33 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

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

Analyst Ratings Changes

A number of equities analysts have recently commented on AMP shares. Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $544.50.

Ameriprise Financial Stock Performance

Shares of AMP opened at $499.09 on Friday. The business’s fifty day simple moving average is $506.68 and its two-hundred day simple moving average is $501.83. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a market cap of $47.05 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.05 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The business 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 company’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $8.72 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.