HM Payson & Co. Sells 37 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

HM Payson & Co. decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,533 shares of the financial services provider’s stock after selling 37 shares during the quarter. HM Payson & Co.’s holdings in Ameriprise Financial were worth $1,349,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Banco Santander S.A. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $988,000. Aviance Capital Partners LLC lifted its position in shares of Ameriprise Financial by 1.7% during the 4th quarter. Aviance Capital Partners LLC now owns 6,100 shares of the financial services provider’s stock worth $3,248,000 after buying an additional 100 shares in the last quarter. Callan Family Office LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $2,084,000. Candriam S.C.A. lifted its position in shares of Ameriprise Financial by 17.3% during the 4th quarter. Candriam S.C.A. now owns 105,911 shares of the financial services provider’s stock worth $56,390,000 after buying an additional 15,611 shares in the last quarter. Finally, Blue Barn Wealth LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $212,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

Ameriprise Financial stock opened at $499.28 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market capitalization of $47.99 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.15 and a beta of 1.33. 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 firm has a 50 day simple moving average of $536.85 and a 200 day simple moving average of $517.62.

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, 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%. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. 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 dividend payout ratio is 17.91%.

Insider Activity at Ameriprise Financial

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 shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

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