Sunflower Bank N.A. Has $467,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Sunflower Bank N.A. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 994 shares of the financial services provider’s stock after selling 41 shares during the quarter. Sunflower Bank N.A.’s holdings in Ameriprise Financial were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMP. CHICAGO TRUST Co NA lifted its holdings in shares of Ameriprise Financial by 5.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 4,290 shares of the financial services provider’s stock worth $2,015,000 after acquiring an additional 236 shares during the period. Exchange Traded Concepts LLC acquired a new position in Ameriprise Financial during the third quarter valued at approximately $108,000. Ritholtz Wealth Management lifted its stake in Ameriprise Financial by 11.7% during the third quarter. Ritholtz Wealth Management now owns 1,964 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 206 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Ameriprise Financial by 29.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,131 shares of the financial services provider’s stock valued at $7,106,000 after purchasing an additional 3,420 shares in the last quarter. Finally, Maj Invest Holding A S bought a new position in shares of Ameriprise Financial in the 3rd quarter valued at $98,742,000. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $473.56.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP traded up $11.13 during midday trading on Friday, hitting $502.50. The company had a trading volume of 369,636 shares, compared to its average volume of 473,380. The company has a market capitalization of $49.34 billion, a PE ratio of 17.21, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $502.97. The stock’s fifty day moving average price is $445.74 and its 200-day moving average price is $434.45.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business earned $7.44 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.18%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.28%.

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.