MassMutual Private Wealth & Trust FSB Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

MassMutual Private Wealth & Trust FSB cut its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,158 shares of the financial services provider's stock after selling 3,628 shares during the period. Ameriprise Financial makes up approximately 1.0% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 24th biggest position. MassMutual Private Wealth & Trust FSB owned approximately 0.07% of Ameriprise Financial worth $33,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $28,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $1.30 on Friday, reaching $508.62. The stock had a trading volume of 932,956 shares, compared to its average volume of 496,006. The business's 50 day moving average is $483.11 and its two-hundred day moving average is $518.57. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $48.43 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the firm posted $8.39 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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.