Federated Hermes Inc. Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Federated Hermes Inc. boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 517,669 shares of the financial services provider’s stock after buying an additional 27,914 shares during the quarter. Federated Hermes Inc.’s holdings in Ameriprise Financial were worth $275,616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 7.5 %

Shares of Ameriprise Financial stock opened at $421.61 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $40.52 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.15 and a beta of 1.23. The stock’s 50 day simple moving average is $515.46 and its 200-day simple moving average is $524.00.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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%. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed 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 yield of 1.40%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’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 of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $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 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

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

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.