Hsbc Holdings PLC Boosts Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Hsbc Holdings PLC increased its stake in Ameriprise Financial by 1.5% during the first quarter, now holding approximately 378,274 shares valued at $182.8 million.
• Analysts have varied opinions on Ameriprise Financial, with Royal Bank of Canada raising its price target to $601 and Morgan Stanley downgrading it to an "underweight" rating.
• Ameriprise Financial recently announced a quarterly dividend of $1.60 per share and initiated a share repurchase plan allowing for up to $4.5 billion in buybacks.

Hsbc Holdings PLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 378,274 shares of the financial services provider's stock after buying an additional 5,469 shares during the quarter. Hsbc Holdings PLC owned approximately 0.40% of Ameriprise Financial worth $182,808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at $36,000. Quarry LP raised its holdings in shares of Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after buying an additional 52 shares during the period. Finally, TCTC Holdings LLC increased its holdings in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Trading Down 0.0%

NYSE:AMP opened at $505.4040 on Wednesday. The stock has a 50-day simple moving average of $521.26 and a 200-day simple moving average of $506.63. The stock has a market cap of $47.64 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.08 and a beta of 1.24. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.72 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Company 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.

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