Hsbc Holdings PLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,805 shares of the financial services provider's stock after acquiring an additional 70,819 shares during the period. Hsbc Holdings PLC owned approximately 0.38% of Ameriprise Financial worth $198,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after buying an additional 516,437 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ameriprise Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after purchasing an additional 38,141 shares during the last quarter. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $689,272,000. Amundi grew its stake in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock valued at $343,546,000 after purchasing an additional 208,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock valued at $320,692,000 after acquiring an additional 5,048 shares during the period. 83.95% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
AMP has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research note on Monday, April 7th. Piper Sandler boosted their price target 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 decreased their target price on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $517.44.
Check Out Our Latest Report on Ameriprise Financial
Ameriprise Financial Trading Down 0.2 %
NYSE:AMP traded down $0.87 on Monday, hitting $465.07. The stock had a trading volume of 146,638 shares, compared to its average volume of 489,848. The stock has a market cap of $44.56 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average price of $486.86 and a two-hundred day moving average price of $522.51.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.17 by $0.33. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.
Ameriprise Financial declared that its board has initiated a stock repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.
Ameriprise Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.38%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial's dividend payout ratio is 21.75%.
Ameriprise Financial Company Profile
(
Free Report)
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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