Ameriprise Financial Inc. Sells 2,810 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,835 shares of the financial services provider’s stock after selling 2,810 shares during the quarter. Ameriprise Financial Inc.’s holdings in Ameriprise Financial were worth $9,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. Norges Bank bought a new stake in Ameriprise Financial in the 4th quarter valued at $689,272,000. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after buying an additional 516,437 shares during the period. Proficio Capital Partners LLC increased its holdings in Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after buying an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Finally, Northern Trust Corp increased its holdings in Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock valued at $675,344,000 after buying an additional 209,549 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7%

Shares of NYSE:AMP opened at $518.34 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company’s 50-day moving average price is $481.07 and its two-hundred day moving average price is $520.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $49.36 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the firm earned $8.39 EPS. The company’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Finally, Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $517.13.

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.