M&T Bank Corp Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

M&T Bank Corp reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,886 shares of the financial services provider's stock after selling 3,474 shares during the quarter. M&T Bank Corp's holdings in Ameriprise Financial were worth $19,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares during the period. SBI Securities Co. Ltd. acquired a new position in Ameriprise Financial during the fourth quarter worth $43,000. Assetmark Inc. boosted its holdings in Ameriprise Financial by 2.3% during the fourth quarter. Assetmark Inc. now owns 1,766 shares of the financial services provider's stock valued at $940,000 after acquiring an additional 40 shares during the period. Proficio Capital Partners LLC boosted its holdings in Ameriprise Financial by 49.8% during the fourth quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 232 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $47,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada boosted their price objective 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. 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. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $517.86.

Ameriprise Financial Stock Down 0.0%

Shares of NYSE AMP opened at $536.33 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $512.36 and a two-hundred day simple moving average of $511.33. The firm has a market capitalization of $51.07 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced 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 net margin of 17.14% and a return on equity of 68.93%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm posted $8.39 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.19%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has authorized 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 an indication that the company's leadership believes its shares are undervalued.

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.

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