Cullen Frost Bankers Inc. Has $1.85 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cullen Frost Bankers Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,882 shares of the financial services provider’s stock after selling 168 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Ameriprise Financial were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMP. Royal Bank of Canada raised its position in Ameriprise Financial by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after acquiring an additional 79,611 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Ameriprise Financial by 12.5% in the third quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock valued at $204,417,000 after acquiring an additional 69,078 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 584,707 shares of the financial services provider’s stock valued at $222,089,000 after purchasing an additional 4,811 shares during the period. Finally, Barclays PLC raised its holdings in Ameriprise Financial by 63.9% during the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after purchasing an additional 136,621 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 1.0 %

Shares of NYSE:AMP opened at $430.18 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a 52-week low of $286.58 and a 52-week high of $440.67. The business’s 50 day simple moving average is $421.16 and its two-hundred day simple moving average is $386.42. The firm has a market cap of $43.10 billion, a P/E ratio of 14.64, a PEG ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm earned $7.25 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Activity

In related news, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the sale, the chief executive officer now owns 196,598 shares in the company, valued at approximately $78,857,423.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James M. Cracchiolo sold 2,493 shares of Ameriprise Financial stock in a transaction on Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The disclosure for this sale can be found here. Insiders sold 56,980 shares of company stock worth $23,053,480 over the last three months. 0.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMP shares. UBS Group upped their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Piper Sandler increased their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Morgan Stanley boosted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Argus raised their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $450.88.

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.