Hsbc Holdings PLC Has $248.55 Million Holdings in Ameriprise Financial, Inc. $AMP

Hsbc Holdings PLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 542,072 shares of the financial services provider’s stock after purchasing an additional 6,132 shares during the quarter. Hsbc Holdings PLC owned about 0.60% of Ameriprise Financial worth $248,547,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $1,704,000. National Pension Service increased its holdings in shares of Ameriprise Financial by 8.2% during the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares during the period. LSV Asset Management raised its position in shares of Ameriprise Financial by 1.3% in the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after buying an additional 3,548 shares in the last quarter. KBC Group NV raised its position in shares of Ameriprise Financial by 43.7% in the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider’s stock valued at $98,691,000 after buying an additional 65,400 shares in the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $485,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Morgan Stanley boosted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dawn Brockman sold 472 shares of the firm’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 transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.1%

Shares of AMP stock opened at $559.88 on Monday. The stock’s fifty day moving average price is $536.22 and its two-hundred day moving average price is $484.99. The company has a market cap of $50.33 billion, a PE ratio of 13.50, a P/E/G ratio of 1.00 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

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.