Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Group One Trading LLC

Group One Trading LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 178.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 278 shares of the financial services provider’s stock after buying an additional 178 shares during the quarter. Group One Trading LLC’s holdings in Ameriprise Financial were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMP. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Ameriprise Financial by 9.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 412 shares of the financial services provider’s stock worth $219,000 after buying an additional 37 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Ameriprise Financial by 33.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,970 shares of the financial services provider’s stock valued at $3,711,000 after buying an additional 1,738 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Ameriprise Financial by 18.8% in the fourth quarter. Atomi Financial Group Inc. now owns 789 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 125 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its stake in shares of Ameriprise Financial by 9.2% in the fourth quarter. Simon Quick Advisors LLC now owns 510 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.6%

NYSE:AMP opened at $507.83 on Friday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market cap of $48.36 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50-day simple moving average of $481.91 and a 200-day simple moving average of $520.30.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $8.39 earnings per share. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is currently 21.75%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMP. Wall Street Zen cut Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Raymond James upgraded 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 research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods raised their target price 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $517.13.

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.