Ameriprise Financial, Inc. $AMP Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the 4th quarter, according to the company in its most recent 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 period. Hsbc Holdings PLC’s holdings in Ameriprise Financial were worth $291,615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SouthState Bank Corp lifted its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Prosperity Bancshares Inc acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $33,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.9%

AMP opened at $488.68 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The business’s 50 day moving average is $461.34 and its two-hundred day moving average is $472.38. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $9.50 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 43.01 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMP shares. BMO Capital Markets upped their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Piper Sandler upped their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $543.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s 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 sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial 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.