Hsbc Holdings PLC Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Hsbc Holdings PLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 13.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 352,197 shares of the financial services provider’s stock after buying an additional 42,605 shares during the period. Hsbc Holdings PLC owned approximately 0.35% of Ameriprise Financial worth $150,745,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMP. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the last quarter. First Trust Advisors LP raised its holdings in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after buying an additional 512,884 shares during the last quarter. TD Asset Management Inc raised its holdings in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after buying an additional 358,780 shares during the last quarter. Swedbank AB purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $108,938,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Ameriprise Financial by 104.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Morgan Stanley decreased 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 report on Monday, July 29th. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. UBS Group decreased their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. 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 research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $464.33.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.2 %

Shares of AMP stock opened at $451.33 on Thursday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $458.23. The stock 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 has a 50 day simple moving average of $429.39 and a two-hundred day simple moving average of $427.90.

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

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 dividend yield of 1.31%. Ameriprise Financial’s 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.