First Hawaiian Bank Has $2.53 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• First Hawaiian Bank reduced its stake in Ameriprise Financial by 16.7%, selling 1,047 shares and leaving it with 5,229 shares valued at approximately $2.53 million.
• Ameriprise Financial reported earnings of $9.11 EPS for the last quarter, surpassing estimates, with revenues of $4.49 billion, a 2.2% increase from the previous year.
• The company declared a quarterly dividend of $1.60 per share, resulting in an annualized dividend of $6.40 and a yield of 1.3%.

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

Several other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the fourth quarter worth about $26,000. TD Capital Management LLC boosted its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $29,000. Sunbeam Capital Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $31,000. Finally, WPG Advisers LLC acquired a new stake in Ameriprise Financial during the first quarter valued at approximately $33,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 9,929 shares of the 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 completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $7.46 during mid-day trading on Thursday, hitting $493.63. 192,193 shares of the stock were exchanged, compared to its average volume of 499,444. The company has a market cap of $46.53 billion, a P/E ratio of 15.34, a PEG ratio of 1.03 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock's fifty day simple moving average is $512.67 and its two-hundred day simple moving average is $502.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Company 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.