Central Pacific Bank Trust Division Buys Shares of 1,520 Ameriprise Financial, Inc. (NYSE:AMP)

Central Pacific Bank Trust Division purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,520 shares of the financial services provider’s stock, valued at approximately $661,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Group LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $28,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $32,000. Annapolis Financial Services LLC grew its position in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $34,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a report on Monday. Finally, Piper Sandler dropped their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $462.89.

Get Our Latest Research Report on Ameriprise Financial

Ameriprise Financial Price Performance

AMP traded up $0.31 during midday trading on Wednesday, reaching $433.60. 7,981 shares of the company’s stock were exchanged, compared to its average volume of 472,603. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $431.28 and a two-hundred day simple moving average of $413.55. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $446.32.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $7.25 EPS. Ameriprise Financial’s revenue was up 10.8% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.37%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Ameriprise Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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