Hsbc Holdings PLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593,738 shares of the financial services provider’s stock after purchasing an additional 21,017 shares during the quarter. Hsbc Holdings PLC’s holdings in Ameriprise Financial were worth $291,615,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after buying an additional 72 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Ameriprise Financial in the second quarter valued at about $313,000. Finally, Gabelli Funds LLC boosted its holdings in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after acquiring an additional 2,922 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Stock Performance
Shares of AMP opened at $467.97 on Friday. The stock has a 50-day moving average of $460.13 and a two-hundred day moving average of $473.27. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $42.07 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.99 and a beta of 1.16.
Ameriprise Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.
Insider Buying and Selling
In related news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
AMP has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $543.22.
Read Our Latest Report on Ameriprise Financial
Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
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