M&T Bank Corp Has $23.09 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

M&T Bank Corp decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,360 shares of the financial services provider’s stock after selling 2,272 shares during the period. M&T Bank Corp’s holdings in Ameriprise Financial were worth $23,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC boosted its stake in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after purchasing an additional 31,158 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock worth $320,692,000 after purchasing an additional 5,048 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after purchasing an additional 371,306 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday. UBS Group cut 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 research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Up 2.3 %

Shares of AMP stock opened at $509.57 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm’s 50-day moving average is $538.39 and its 200-day moving average is $516.69. The stock has a market cap of $48.98 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.16%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by company insiders.

Ameriprise Financial 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.