Federated Hermes Inc. Increases Holdings in Ameriprise Financial, Inc. $AMP

Federated Hermes Inc. raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 29.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 966,163 shares of the financial services provider’s stock after purchasing an additional 219,080 shares during the quarter. Ameriprise Financial accounts for approximately 0.8% of Federated Hermes Inc.’s investment portfolio, making the stock its 19th biggest holding. Federated Hermes Inc. owned 1.02% of Ameriprise Financial worth $474,628,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC boosted its stake in Ameriprise Financial by 4.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after buying an additional 667 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $1,454,000. NorthRock Partners LLC raised its position in Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Ameriprise Financial by 9.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 46,084 shares of the financial services provider’s stock valued at $22,639,000 after buying an additional 3,974 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of Ameriprise Financial by 18.0% during the second quarter. Beutel Goodman & Co Ltd. now owns 570,080 shares of the financial services provider’s stock worth $304,268,000 after purchasing an additional 86,983 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $498.88 on Wednesday. The company has a market capitalization of $46.35 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50 day moving average of $487.02 and a 200 day moving average of $492.03.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the previous year, the firm earned $9.02 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s payout ratio is presently 17.55%.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Royal Bank Of Canada dropped their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $528.75.

Ameriprise Financial 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.