Michels Family Financial LLC Acquires Shares of 1,125 Ameriprise Financial, Inc. (NYSE:AMP)

Michels Family Financial LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,125 shares of the financial services provider’s stock, valued at approximately $599,000.

A number of other large investors also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter worth about $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMP shares. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Wall Street Zen cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley upped 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. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Finally, 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 note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

AMP stock opened at $504.70 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $48.06 billion, a PE ratio of 15.27, a P/E/G ratio of 1.15 and a beta of 1.28. The business’s 50-day moving average price is $482.22 and its two-hundred day moving average price is $520.24.

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

Ameriprise Financial declared that its board has initiated a share buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are 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 is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.27%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial Company 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.