HM Payson & Co. Has $1.35 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

HM Payson & Co. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,533 shares of the financial services provider’s stock after selling 37 shares during the period. HM Payson & Co.’s holdings in Ameriprise Financial were worth $1,349,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMP. Howard Capital Management Group LLC increased its holdings in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares in the last quarter. Summit Global Investments increased its holdings in shares of Ameriprise Financial by 30.3% during the third quarter. Summit Global Investments now owns 1,257 shares of the financial services provider’s stock worth $590,000 after buying an additional 292 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Ameriprise Financial by 11.0% during the third quarter. Fiera Capital Corp now owns 10,885 shares of the financial services provider’s stock worth $5,114,000 after buying an additional 1,080 shares in the last quarter. SpiderRock Advisors LLC increased its holdings in shares of Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 1,867 shares in the last quarter. Finally, Kerusso Capital Management LLC increased its holdings in shares of Ameriprise Financial by 6.4% during the third quarter. Kerusso Capital Management LLC now owns 12,996 shares of the financial services provider’s stock worth $6,106,000 after buying an additional 782 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $499.28 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $536.85 and a two-hundred day moving average price of $517.62. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a market cap of $47.99 billion, a P/E ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial’s payout ratio is currently 17.91%.

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.