M&T Bank Corp Sells 5,121 Shares of Ameriprise Financial, Inc. $AMP

M&T Bank Corp trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,765 shares of the financial services provider’s stock after selling 5,121 shares during the quarter. M&T Bank Corp’s holdings in Ameriprise Financial were worth $18,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Whipplewood Advisors LLC boosted its position in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares in the last quarter. TD Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC raised its stake in shares of Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Finally, Winnow Wealth LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $32,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMP. Evercore ISI lowered their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Argus lowered their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Morgan Stanley dropped their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $457.17 on Wednesday. The stock has a market cap of $42.48 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.14 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a 50 day simple moving average of $470.14 and a two-hundred day simple moving average of $498.75. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.02 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

About Ameriprise Financial

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.