Bank of America 13F: Cuts AMP Stake by $10M
Bank of America trimmed its position in Ameriprise Financial, reducing its holdings by over 22,000 shares.
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Bank of America sold 22,575 shares from its stake in Ameriprise Financial, Inc. ($AMP), a 3.35% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 650,536 shares worth $297.22 million at the end of the quarter.
Since the filing, $AMP is down 3.3% after 1 week, up 0.2% after 1 month and up 6.6% to date (from the $469.71 close on May 18, 2026).
AMP
Ameriprise Financial, Inc.
Key Points
- Bank of America trimmed its stake in Ameriprise Financial by 22,575 shares, reducing its position by 3.4% to 650,536 shares valued at approximately $297.2 million as of May 18, 2026.
- Ameriprise Financial stock is currently trading at $456.89, down from a previous close of $544.33, and is well above its 52-week low of $422.37.
- Analysts maintain a consensus rating of 'buy' for Ameriprise Financial, with a target mean price of $579.45 based on 11 opinions.
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Bank of America Cuts Ameriprise Financial Position
Bank of America has trimmed its stake in Ameriprise Financial, Inc. (NYSE: AMP) by 22,575 shares. This reduction represents a 3.4% decrease, bringing its total holdings to 650,536 shares valued at about $297.2 million as of May 18, 2026. The latest filing reflects the bank's position as of the reporting period and may not represent its current holdings.
What Changed in Bank of America's Position
Bank of America reduced its position in Ameriprise Financial from 673,111 shares to 650,536 shares. This change of 22,575 shares indicates a strategic adjustment in the bank's investment approach toward Ameriprise.
Institutional Activity Around Ameriprise Financial
While there are no recent updates on other institutional investors regarding Ameriprise Financial, the trend of some funds trimming their stakes is notable. For instance, just days before, Cetera Investment Advisers cut its holdings by 23.7%, and Aristotle Capital also reduced its stake by 4.3%. Such moves suggest a cautious sentiment among some institutional investors in the financial services sector.
Stock Performance and Current Position
Ameriprise Financial shares are currently trading at $456.89, which is a decline from the previous close of $544.33. The stock remains above its 52-week low of $422.37, indicating some resilience despite the recent downturn. This position may influence investor sentiment as they watch for future performance.
Analysts Set New Price Targets
On October 9, 2026, Morgan Stanley maintained an 'Underweight' rating on Ameriprise Financial with a price target of $483. On October 7, 2026, Evercore ISI Group also maintained an 'In-Line' rating, raising its target to $632 from $623. Overall, analysts maintain a consensus 'buy' rating with a target mean price of $579.45 based on 11 opinions, reflecting a generally positive outlook despite recent reductions in holdings by some funds.
What Ameriprise Financial, Inc. Does
Ameriprise Financial, Inc. is a diversified financial services company based in Minneapolis, Minnesota. The firm provides financial planning and advice services to individuals and institutions, operating through various segments including asset management and retirement solutions. The recent change in Bank of America's position highlights the ongoing adjustments in institutional investment strategies within the financial services sector.
What's Ahead for Ameriprise Financial, Inc.
Investors will be watching for Ameriprise Financial's next earnings report scheduled for October 29, 2026. As a reminder, this 13F filing reflects past positions and may not represent current holdings. Further filings could provide additional insights into institutional investment trends in the company.
Related Filing Alerts
Source: Bank of America's 13F filing on $AMP (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Bank of America 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts