HM Payson & Co. Has $1.21 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

HM Payson & Co. decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,570 shares of the financial services provider’s stock after selling 100 shares during the period. HM Payson & Co.’s holdings in Ameriprise Financial were worth $1,207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. First Trust Direct Indexing L.P. grew its position in Ameriprise Financial by 23.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,013 shares of the financial services provider’s stock worth $2,355,000 after purchasing an additional 947 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Ameriprise Financial by 45.8% in the third quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock valued at $402,000 after buying an additional 269 shares during the period. abrdn plc grew its position in Ameriprise Financial by 7.7% during the third quarter. abrdn plc now owns 91,204 shares of the financial services provider’s stock worth $42,610,000 after buying an additional 6,544 shares in the last quarter. Smith Group Asset Management LLC grew its position in Ameriprise Financial by 3.0% during the third quarter. Smith Group Asset Management LLC now owns 69,601 shares of the financial services provider’s stock worth $32,699,000 after buying an additional 2,034 shares in the last quarter. Finally, Orrstown Financial Services Inc. bought a new position in Ameriprise Financial during the third quarter valued at about $201,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $510.30 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market cap of $50.11 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 12 month low of $311.11 and a 12 month high of $524.89. The company’s 50-day moving average price is $473.59 and its two-hundred day moving average price is $442.50.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMP. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday. UBS Group raised their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $487.67.

About Ameriprise Financial

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.