Hsbc Holdings PLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 542,072 shares of the financial services provider's stock, valued at approximately $248,547,000. Hsbc Holdings PLC owned 0.60% of Ameriprise Financial at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $742,438,000. Legal & General Group Plc bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $262,687,000. AQR Capital Management LLC lifted its stake in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ameriprise Financial in the 2nd quarter valued at $203,510,000. Finally, First Trust Advisors LP boosted its holdings in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider's stock valued at $406,216,000 after purchasing an additional 381,754 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.
Ameriprise Financial Stock Down 0.1%
Shares of AMP opened at $560.30 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market cap of $50.37 billion, a P/E ratio of 13.51, a P/E/G ratio of 0.75 and a beta of 1.14. The stock has a 50 day simple moving average of $521.48 and a two-hundred day simple moving average of $481.98. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.11 EPS. On average, analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.
Ameriprise Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is currently 16.40%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on AMP shares. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Piper Sandler lifted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company 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 given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.
Read Our Latest Research Report on Ameriprise Financial
Insider Buying and Selling
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. This represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares of the company's stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company's stock.
Ameriprise Financial Company Profile
(
Free Report)
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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