Bokf Na Decreases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Bokf Na cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 28.0% in the 1st quarter, HoldingsChannel reports. The fund owned 12,231 shares of the financial services provider’s stock after selling 4,749 shares during the quarter. Bokf Na’s holdings in Ameriprise Financial were worth $5,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Norges Bank bought a new stake in Ameriprise Financial during the 4th quarter valued at $514,539,000. Dimensional Fund Advisors LP boosted its position in Ameriprise Financial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after buying an additional 35,931 shares during the period. TD Asset Management Inc boosted its position in Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after buying an additional 111,973 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Ameriprise Financial by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after acquiring an additional 32,312 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 0.5 %

Ameriprise Financial stock traded down $2.13 during mid-day trading on Friday, reaching $439.54. The stock had a trading volume of 530,900 shares, compared to its average volume of 554,406. The company has a 50-day moving average price of $431.95 and a two-hundred day moving average price of $417.95. The company has a market capitalization of $43.66 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.69 and a beta of 1.37. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $449.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company earned $7.44 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 34.89 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date is Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.35%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMP. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Argus lifted their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods lifted 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, July 8th. Finally, Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $462.89.

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.