Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,276 shares of the financial services provider’s stock after selling 506 shares during the quarter. First Hawaiian Bank’s holdings in Ameriprise Financial were worth $3,342,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. One Wealth Capital Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $372,000. Oliver Luxxe Assets LLC raised its position in shares of Ameriprise Financial by 19.0% in the fourth quarter. Oliver Luxxe Assets LLC now owns 1,202 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 192 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $204,000. Pensionfund Sabic grew its position in shares of Ameriprise Financial by 23.3% during the 4th quarter. Pensionfund Sabic now owns 3,700 shares of the financial services provider’s stock valued at $1,970,000 after acquiring an additional 700 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Ameriprise Financial by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 36,118 shares of the financial services provider’s stock valued at $19,232,000 after purchasing an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last quarter. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $5.52 during midday trading on Wednesday, hitting $534.35. The company had a trading volume of 539,957 shares, compared to its average volume of 411,779. Ameriprise Financial, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The stock has a market cap of $51.84 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50-day simple moving average is $547.49 and its 200-day simple moving average is $484.11.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $489.33.

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.