Keybank National Association OH Sells 2,727 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Keybank National Association OH trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,351 shares of the financial services provider's stock after selling 2,727 shares during the period. Keybank National Association OH owned about 0.06% of Ameriprise Financial worth $26,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $31,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP traded up $0.62 during trading hours on Friday, reaching $543.06. 264,141 shares of the company were exchanged, compared to its average volume of 497,249. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The business's 50 day simple moving average is $509.70 and its 200-day simple moving average is $511.23. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $51.71 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.03 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the company posted $8.39 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of "Hold" and an average price target of $517.86.

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.