Bremer Bank National Association Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Bremer Bank National Association trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,821 shares of the financial services provider’s stock after selling 264 shares during the quarter. Ameriprise Financial makes up 1.3% of Bremer Bank National Association’s portfolio, making the stock its 22nd biggest position. Bremer Bank National Association’s holdings in Ameriprise Financial were worth $6,759,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth $28,000. Bank & Trust Co purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth $29,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth $32,000. Finally, Annapolis Financial Services LLC lifted its holdings in shares of Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 2.8 %

Ameriprise Financial stock traded up $11.61 during midday trading on Wednesday, reaching $419.87. The company’s stock had a trading volume of 581,692 shares, compared to its average volume of 489,485. The stock’s 50-day simple moving average is $426.06 and its 200-day simple moving average is $420.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The stock has a market capitalization of $41.70 billion, a P/E ratio of 14.25, a PEG ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business posted $7.44 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley decreased their price objective on 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. Jefferies Financial Group upped their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $464.33.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

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.