Massachusetts Financial Services Co. MA Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Massachusetts Financial Services Co. MA boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,321 shares of the financial services provider's stock after purchasing an additional 6,915 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.24% of Ameriprise Financial worth $124,760,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake 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 worth $2,556,683,000 after buying an additional 516,437 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ameriprise Financial by 1.5% during the 4th 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 period. Norges Bank purchased a new position in Ameriprise Financial during the 4th quarter worth $689,272,000. Amundi increased its stake in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock valued at $343,546,000 after purchasing an additional 208,195 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Ameriprise Financial by 0.8% in the fourth 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 last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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Ameriprise Financial Price Performance

AMP stock traded down $25.21 during midday trading on Thursday, hitting $447.79. 146,580 shares of the stock were exchanged, compared to its average volume of 492,935. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $43.04 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock's 50-day moving average price is $504.01 and its 200-day moving average price is $523.06.

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

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and an average target price of $510.20.

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.