MassMutual Private Wealth & Trust FSB Has $31.36 Million Position in Ameriprise Financial, Inc. $AMP

MassMutual Private Wealth & Trust FSB trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 68,355 shares of the financial services provider’s stock after selling 1,490 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Ameriprise Financial were worth $31,359,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SouthState Bank Corp raised its position in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the first quarter worth $28,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $32,000. Prosperity Bancshares Inc bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $33,000. Finally, WFA of San Diego LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly 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. Insiders sold 34,571 shares of company stock worth $18,227,419 in the last quarter. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMP shares. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $551.79 on Tuesday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $553.82. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $49.61 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.73 and a beta of 1.14. The firm has a 50-day moving average price of $486.59 and a 200 day moving average price of $476.51.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $9.11 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

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.