Hsbc Holdings PLC Buys 42,605 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Hsbc Holdings PLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 352,197 shares of the financial services provider’s stock after acquiring an additional 42,605 shares during the quarter. Hsbc Holdings PLC’s holdings in Ameriprise Financial were worth $150,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Retirement Group LLC bought a new position in shares of Ameriprise Financial during the first quarter worth $25,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial during the second quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter worth $28,000. Finally, Mascoma Wealth Management LLC boosted its position in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Trading Down 0.2 %

Shares of AMP opened at $451.33 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $458.23. The company has a market cap of $44.83 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $429.39 and its 200-day simple moving average is $427.90.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm posted $7.44 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Ameriprise Financial 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.