Massachusetts Financial Services Co. MA Has $143.88 Million Holdings in Ameriprise Financial, Inc. $AMP

Massachusetts Financial Services Co. MA increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,877 shares of the financial services provider’s stock after acquiring an additional 30,044 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.31% of Ameriprise Financial worth $143,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AMP. Whipplewood Advisors LLC increased its holdings in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC grew its position in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Winnow Wealth LLC acquired a new stake in Ameriprise Financial during the second quarter worth about $32,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter valued at about $32,000. Finally, WFA of San Diego LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at approximately $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Down 3.3%

Shares of AMP opened at $492.37 on Wednesday. The company has a market capitalization of $45.75 billion, a P/E ratio of 13.50, a PEG ratio of 1.32 and a beta of 1.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The business’s 50 day simple moving average is $482.31 and its 200-day simple moving average is $493.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the firm posted $9.02 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMP. Royal Bank Of Canada lowered their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $528.75.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.