1,545 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by LMR Partners LLP

LMR Partners LLP bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,545 shares of the financial services provider’s stock, valued at approximately $823,000.

Several other large investors have also bought and sold shares of AMP. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 9.1% during the 3rd 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 last quarter. Czech National Bank raised its position in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares in the last quarter. Capital Investment Advisors LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $219,000. Wedmont Private Capital raised its position in shares of Ameriprise Financial by 1.3% in the 4th quarter. Wedmont Private Capital now owns 3,492 shares of the financial services provider’s stock worth $1,800,000 after acquiring an additional 46 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in shares of Ameriprise Financial by 43.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,065 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 324 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $520.49 on Wednesday. The company has a market capitalization of $49.56 billion, a P/E ratio of 15.74, a price-to-earnings-growth 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. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The business has a 50-day simple moving average of $477.17 and a two-hundred day simple moving average of $520.05.

Ameriprise Financial (NYSE:AMP) last released 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. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the business earned $8.39 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced 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 represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is presently 21.75%.

Ameriprise Financial announced that its board has approved a share repurchase program 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 buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley lifted 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. Piper Sandler lifted their price objective on 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 boosted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Finally, Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $517.13.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

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.