Hsbc Holdings PLC Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Hsbc Holdings PLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 372,805 shares of the financial services provider's stock after purchasing an additional 70,819 shares during the period. Hsbc Holdings PLC owned about 0.38% of Ameriprise Financial worth $198,366,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after purchasing an additional 38,141 shares during the last quarter. Norges Bank purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $689,272,000. Amundi raised its holdings in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock valued at $343,546,000 after buying an additional 208,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock valued at $320,692,000 after buying an additional 5,048 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $467.81 on Wednesday. The firm's 50-day simple moving average is $491.44 and its two-hundred day simple moving average is $522.62. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market cap of $44.82 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.27%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a report on Monday, April 7th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $517.44.

About Ameriprise Financial

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.

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