First Hawaiian Bank Sells 1,047 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

First Hawaiian Bank lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,229 shares of the financial services provider's stock after selling 1,047 shares during the quarter. First Hawaiian Bank's holdings in Ameriprise Financial were worth $2,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter worth about $30,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP traded down $1.30 during trading on Friday, hitting $508.62. The company's stock had a trading volume of 932,956 shares, compared to its average volume of 493,604. The firm's 50 day moving average price is $483.11 and its two-hundred day moving average price is $518.57. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a market capitalization of $48.43 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same period in the previous year, the business posted $8.39 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has authorized a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. Ameriprise Financial's payout ratio is currently 21.75%.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $517.13.

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.