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

Massachusetts Financial Services Co. MA lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.24% of Ameriprise Financial worth $124,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Trexquant Investment LP purchased a new position in Ameriprise Financial in the 4th quarter worth about $1,804,000. Geode Capital Management LLC raised its holdings in shares of Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after purchasing an additional 38,141 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares during the period. Franklin Resources Inc. boosted its holdings in Ameriprise Financial by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 252,213 shares of the financial services provider’s stock worth $134,285,000 after purchasing an additional 3,634 shares during the last quarter. Finally, Axiom Investors LLC DE grew its position in Ameriprise Financial by 11.8% in the 4th quarter. Axiom Investors LLC DE now owns 256,120 shares of the financial services provider’s stock worth $136,366,000 after purchasing an additional 27,049 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $421.61 on Friday. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company’s 50 day moving average is $515.46 and its two-hundred day moving average is $523.50. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group cut 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. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Company 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.