Huntington National Bank Acquires 189 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Huntington National Bank increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,971 shares of the financial services provider’s stock after buying an additional 189 shares during the period. Huntington National Bank’s holdings in Ameriprise Financial were worth $1,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMP. Massachusetts Financial Services Co. MA raised its holdings in Ameriprise Financial by 3.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 234,321 shares of the financial services provider’s stock worth $124,760,000 after acquiring an additional 6,915 shares during the last quarter. Trexquant Investment LP bought a new stake in Ameriprise Financial during the fourth quarter valued at about $1,804,000. Geode Capital Management LLC grew its holdings in Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after buying an additional 38,141 shares in the last quarter. HighPoint Advisor Group LLC grew its position in shares of Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Ameriprise Financial by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 252,213 shares of the financial services provider’s stock valued at $134,285,000 after purchasing an additional 3,634 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 7.8 %

Shares of AMP stock opened at $455.69 on Friday. The company’s 50-day moving average price is $518.30 and its 200-day moving average price is $523.67. 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 stock has a market cap of $43.80 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.30%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AMP shares. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price 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.