Massachusetts Financial Services Co. MA Decreases Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Massachusetts Financial Services Co. reduced its position in Ameriprise by 4.9% in Q4, selling 14,415 shares and ending the period with 278,462 shares (≈0.30% of the company) valued at about $136.54 million.
• Insiders have been net sellers recently—16,658 shares worth roughly $8.99 million were sold over the past three months, including CFO Walter Berman's sale of 7,000 shares at $544.22—leaving insiders with 0.60% ownership.
• Ameriprise beat Q4 estimates (EPS $10.83; revenue $4.92B), but analysts hold a consensus Hold rating with an average price target of $544.22 while the stock trades near $454.67.

Massachusetts Financial Services Co. MA lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 278,462 shares of the financial services provider's stock after selling 14,415 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.30% of Ameriprise Financial worth $136,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. Qube Research & Technologies Ltd raised its holdings in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock valued at $231,805,000 after buying an additional 275,659 shares during the period. Man Group plc grew its position in Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock valued at $135,989,000 after acquiring an additional 241,665 shares during the last quarter. Federated Hermes Inc. grew its position in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock valued at $474,628,000 after acquiring an additional 219,080 shares during the last quarter. Close Asset Management Ltd grew its position in Ameriprise Financial by 78.2% in the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock valued at $227,652,000 after acquiring an additional 203,252 shares during the last quarter. Finally, Woodline Partners LP grew its position in Ameriprise Financial by 1,776.6% in the 3rd quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider's stock valued at $94,951,000 after acquiring an additional 182,985 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last three months. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMP shares. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday. They issued a "hold" rating on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Piper Sandler cut their price objective on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $544.22.

Ameriprise Financial Stock Performance

AMP stock opened at $454.67 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average price of $463.93 and a 200 day moving average price of $476.31. The company has a market capitalization of $41.46 billion, a P/E ratio of 12.50, a PEG ratio of 1.08 and a beta of 1.27. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.54 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial's payout ratio is presently 17.60%.

Ameriprise Financial Company 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.

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