Comerica Bank Trims Position in Ameriprise Financial, Inc. $AMP

Key Points

• Comerica Bank decreased its holdings in Ameriprise Financial by 9.0%, selling 3,864 shares and retaining a total of 39,015 shares valued at approximately $18.89 million.
• CEO William F. Truscott sold 9,929 shares of Ameriprise Financial at an average price of $506.89, resulting in a significant 47.34% decrease in his position.
• Ameriprise Financial reported a net margin of 18.30% and a return on equity of 65.90%, with earnings per share (EPS) of $9.11, exceeding analyst expectations.

Comerica Bank lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,015 shares of the financial services provider's stock after selling 3,864 shares during the quarter. Comerica Bank's holdings in Ameriprise Financial were worth $18,888,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after buying an additional 1,023,002 shares in the last quarter. GAMMA Investing LLC grew its stake in Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ameriprise Financial by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after purchasing an additional 23,655 shares during the period. Northern Trust Corp grew its stake in Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after purchasing an additional 209,549 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after purchasing an additional 266,631 shares during the period. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $1.17 during trading on Friday, hitting $515.46. 418,838 shares of the stock traded hands, compared to its average volume of 386,783. 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 firm's fifty day moving average is $521.88 and its 200-day moving average is $505.58. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.10 and a beta of 1.24. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $8.72 EPS. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the business'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 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 approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $534.71.

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.