Ameriprise Financial, Inc. $AMP Stock Sold by Keybank National Association OH

Keybank National Association OH trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,955 shares of the financial services provider’s stock after selling 1,649 shares during the quarter. Keybank National Association OH’s holdings in Ameriprise Financial were worth $20,657,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Twin Lakes Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $25,000. Balance Wealth Partners LLC acquired a new position in Ameriprise Financial during the third quarter worth about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $28,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMP. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Argus boosted their price objective on Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price objective on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, BMO Capital Markets cut their target price on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $557.00.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $520.55 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average price of $512.71 and a 200 day moving average price of $493.42. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The stock has a market cap of $45.19 billion, a P/E ratio of 11.71, a PEG ratio of 1.10 and a beta of 1.13.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share for the quarter, missing the consensus estimate of $11.77 by ($0.51). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a net margin of 20.99% and a return on equity of 69.94%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.92 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.43 earnings per share for the current year.

Ameriprise Financial announced that its board has approved a stock buyback plan on Tuesday, September 29th that permits the company to buy back $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Share buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 15.30%.

Ameriprise Financial Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.