Ameriprise Financial, Inc. (NYSE:AMP) Position Increased by Northern Trust Corp

Northern Trust Corp raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,268,419 shares of the financial services provider’s stock after buying an additional 209,549 shares during the period. Northern Trust Corp’s holdings in Ameriprise Financial were worth $675,344,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMP. Jones Financial Companies Lllp lifted its position in shares of Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 327 shares in the last quarter. Czech National Bank lifted its position in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $43,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $399,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $1,286,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. UBS Group lowered 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $517.44.

Ameriprise Financial Trading Up 0.5 %

Shares of AMP stock opened at $468.16 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. 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 business’s 50 day moving average is $485.25 and its two-hundred day moving average is $522.27. The company has a market cap of $44.86 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $1.60 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.37%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was 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 owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

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.