Central Pacific Bank Trust Division Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Central Pacific Bank Trust Division cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 56.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836 shares of the financial services provider’s stock after selling 1,105 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Ameriprise Financial were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Retirement Group LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth $25,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $479.54 on Friday. The firm has a market cap of $47.63 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $482.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $438.05 and its two-hundred day simple moving average is $431.95.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $7.44 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. UBS Group decreased their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $463.00.

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.