Hsbc Holdings PLC Has $238.13 Million Holdings in Ameriprise Financial, Inc. $AMP

Hsbc Holdings PLC cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,940 shares of the financial services provider’s stock after selling 57,798 shares during the period. Hsbc Holdings PLC owned 0.59% of Ameriprise Financial worth $238,135,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after buying an additional 18,879 shares in the last quarter. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $742,438,000. Boston Partners raised its position in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after acquiring an additional 13,172 shares in the last quarter. AQR Capital Management LLC lifted its stake in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Ameriprise Financial by 0.7% in the fourth quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock valued at $477,148,000 after acquiring an additional 6,934 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 1.0%

NYSE:AMP opened at $527.91 on Friday. The company’s 50 day moving average is $470.45 and its 200-day moving average is $473.87. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The firm has a market cap of $47.46 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.94 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm earned $9.50 EPS. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial, Inc. will post 43.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. BMO Capital Markets increased their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $553.67.

About Ameriprise Financial

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.