Hsbc Holdings PLC Has $262.08 Million Position in Ameriprise Financial, Inc. $AMP

Hsbc Holdings PLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 29.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 491,058 shares of the financial services provider’s stock after purchasing an additional 112,784 shares during the quarter. Hsbc Holdings PLC owned 0.52% of Ameriprise Financial worth $262,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after buying an additional 1,023,002 shares during the period. Nuveen LLC bought a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Ameriprise Financial by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after buying an additional 266,631 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Ameriprise Financial by 78.6% during the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after buying an additional 189,525 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of analyst reports. Argus cut their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Evercore ISI cut their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Trading Up 0.2%

Shares of Ameriprise Financial stock opened at $453.56 on Friday. The firm has a market cap of $42.14 billion, a PE ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a fifty day moving average price of $472.31 and a 200-day moving average price of $500.38.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.02 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

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.