Federated Hermes Inc. Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Federated Hermes Inc. raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,953 shares of the financial services provider’s stock after buying an additional 17,307 shares during the quarter. Federated Hermes Inc.’s holdings in Ameriprise Financial were worth $115,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. OFI Invest Asset Management purchased a new stake in Ameriprise Financial in the 3rd quarter valued at about $25,000. Financial Freedom LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $27,000. Carmel Capital Partners LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $30,000. FinTrust Capital Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMP shares. UBS Group lifted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Morgan Stanley lifted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI boosted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $441.00.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $3.62 on Thursday, hitting $415.39. 90,771 shares of the stock traded hands, compared to its average volume of 480,832. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $41.62 billion, a PE ratio of 17.37, a PEG ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The company’s fifty day moving average is $416.13 and its 200 day moving average is $376.75.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the company earned $6.94 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock valued at $35,560,647 over the last three months. Company insiders own 0.73% of the company’s stock.

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.