Busey Bank Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Busey Bank lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 885 shares of the financial services provider’s stock after selling 149 shares during the quarter. Busey Bank’s holdings in Ameriprise Financial were worth $378,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMP. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter valued at $514,539,000. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the last quarter. First Trust Advisors LP grew its holdings in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after purchasing an additional 358,780 shares during the last quarter. Finally, Swedbank AB purchased a new position in Ameriprise Financial in the first quarter valued at about $108,938,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMP shares. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Argus raised their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. UBS Group cut their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Up 0.2 %

Shares of NYSE:AMP traded up $0.79 during midday trading on Thursday, hitting $434.40. 57,640 shares of the stock were exchanged, compared to its average volume of 485,884. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The business’s fifty day simple moving average is $426.45 and its two-hundred day simple moving average is $422.02. The company has a market capitalization of $43.15 billion, a PE ratio of 14.79, a P/E/G ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company earned $7.44 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.