Federated Hermes Inc. Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Federated Hermes Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 304,953 shares of the financial services provider’s stock after purchasing an additional 17,307 shares during the period. Federated Hermes Inc. owned 0.30% of Ameriprise Financial worth $115,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Moneta Group Investment Advisors LLC grew its position in shares of Ameriprise Financial by 106,308.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after buying an additional 1,586,121 shares during the last quarter. Norges Bank acquired a new stake in Ameriprise Financial in the 4th quarter worth approximately $389,527,000. Nuveen Asset Management LLC boosted its stake in Ameriprise Financial by 29.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after purchasing an additional 382,811 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ameriprise Financial by 123.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider’s stock worth $155,318,000 after purchasing an additional 275,720 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Ameriprise Financial by 33.5% in the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after purchasing an additional 270,755 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,161 shares of company stock valued at $35,560,647. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $3.62 during trading hours on Thursday, reaching $415.39. 90,771 shares of the company’s stock were exchanged, compared to its average volume of 480,832. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a market capitalization of $41.62 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The business has a fifty day moving average of $416.13 and a two-hundred day moving average of $376.75. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 EPS. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.30%. Ameriprise Financial’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMP shares. Raymond James started coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Piper Sandler boosted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group boosted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. UBS Group boosted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Company Profile

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.