First Hawaiian Bank Acquires 944 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

First Hawaiian Bank grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,682 shares of the financial services provider’s stock after acquiring an additional 944 shares during the quarter. First Hawaiian Bank’s holdings in Ameriprise Financial were worth $2,491,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Fortitude Family Office LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at about $39,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at about $51,000. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Ameriprise Financial by 52.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock valued at $53,000 after buying an additional 48 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMP. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Piper Sandler lifted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Evercore ISI lifted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $450.88.

Ameriprise Financial Trading Up 1.0 %

Shares of AMP traded up $4.52 during mid-day trading on Wednesday, hitting $437.07. 387,639 shares of the company’s stock traded hands, compared to its average volume of 393,424. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $442.79. The firm has a market capitalization of $43.41 billion, a P/E ratio of 14.89, a PEG ratio of 0.74 and a beta of 1.36. The business’s 50-day moving average price is $425.35 and its 200-day moving average price is $406.53.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.95 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,376 shares of company stock valued at $1,476,274. 0.96% of the stock is currently owned by corporate insiders.

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.