MassMutual Private Wealth & Trust FSB Decreases Position in Ameriprise Financial, Inc. $AMP

MassMutual Private Wealth & Trust FSB lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,355 shares of the financial services provider’s stock after selling 1,490 shares during the quarter. MassMutual Private Wealth & Trust FSB owned about 0.08% of Ameriprise Financial worth $31,359,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $742,438,000. AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares during the last quarter. M&T Bank Corp grew its stake in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after purchasing an additional 435,885 shares in the last quarter. First Trust Advisors LP increased its holdings in Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after purchasing an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Stock Up 1.1%

Ameriprise Financial stock opened at $551.79 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $553.82. The company has a 50-day simple moving average of $486.59 and a 200-day simple moving average of $476.51. The firm has a market capitalization of $49.61 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.73 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the company posted $9.11 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,571 shares of company stock valued at $18,227,419 in the last three months. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Company 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.