HM Payson & Co. Sells 327 Shares of Ameriprise Financial, Inc. (NYSE:AMP)


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HM Payson & Co. reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,377 shares of the financial services provider’s stock after selling 327 shares during the period. HM Payson & Co.’s holdings in Ameriprise Financial were worth $656,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMP. Arlington Partners LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $25,000. Regent Peak Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Inspire Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $29,000. Finally, Eudaimonia Partners LLC increased its position in Ameriprise Financial by 25.3% in the 3rd quarter. Eudaimonia Partners LLC now owns 1,533 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 310 shares in the last quarter. 83.05% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AMP opened at $238.09 on Thursday. The stock has a market cap of $27.76 billion, a P/E ratio of 17.06 and a beta of 1.74. The firm has a 50 day moving average price of $226.68 and a 200 day moving average price of $195.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.80 and a current ratio of 0.80. Ameriprise Financial, Inc. has a 52-week low of $100.11 and a 52-week high of $240.52.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Tuesday, January 26th. The financial services provider reported $4.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.44 by $0.09. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.20 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 14.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, February 11th. Ameriprise Financial’s payout ratio is currently 25.84%.

Several equities research analysts have weighed in on AMP shares. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $220.00 to $212.00 and set an “equal weight” rating for the company in a research report on Thursday, April 1st. Citigroup lifted their price target on shares of Ameriprise Financial from $245.00 to $265.00 in a research report on Wednesday, March 31st. Piper Sandler lifted their price target on shares of Ameriprise Financial from $215.00 to $221.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. Finally, Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price target for the company. in a research report on Wednesday, March 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $213.27.

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 9,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $215.22, for a total value of $2,044,590.00. Following the transaction, the insider now owns 16,727 shares of the company’s stock, valued at $3,599,984.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Karen Wilson Thissen sold 1,307 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $204.94, for a total transaction of $267,856.58. In the last ninety days, insiders sold 87,932 shares of company stock worth $18,164,517. Insiders own 1.50% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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