iSAM Funds UK Ltd Makes New $955,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

iSAM Funds UK Ltd bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,794 shares of the financial services provider’s stock, valued at approximately $955,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 9.1% in 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 in the last quarter. Merit Financial Group LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $943,000. Aaron Wealth Advisors LLC increased its position in Ameriprise Financial by 8.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 892 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 73 shares during the period. Oak Ridge Investments LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $393,000. Finally, Grove Bank & Trust increased its position in Ameriprise Financial by 4.9% during the 4th quarter. Grove Bank & Trust now owns 811 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.4%

NYSE AMP opened at $521.90 on Tuesday. The business has a 50 day simple moving average of $480.14 and a 200 day simple moving average of $520.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock has a market capitalization of $49.70 billion, a P/E ratio of 15.79, 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 current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 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 firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the firm posted $8.39 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company’s stock, 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. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMP. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Raymond James raised shares of 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. Morgan Stanley increased their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.