Massmutual Trust Co. FSB ADV Buys 1,906 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Massmutual Trust Co. FSB ADV grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,100 shares of the financial services provider’s stock after acquiring an additional 1,906 shares during the period. Ameriprise Financial comprises approximately 1.0% of Massmutual Trust Co. FSB ADV’s investment portfolio, making the stock its 24th biggest holding. Massmutual Trust Co. FSB ADV’s holdings in Ameriprise Financial were worth $34,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. boosted its position in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the first quarter worth about $28,000. Finally, Mascoma Wealth Management LLC lifted 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 valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $480.34 on Thursday. The stock has a market cap of $47.71 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The company has a fifty day simple moving average of $437.29 and a 200-day simple moving average of $431.61. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $482.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMP. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler dropped their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $463.00.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

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.