Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,641 shares of the financial services provider’s stock after acquiring an additional 2,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ameriprise Financial were worth $9,993,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at about $36,000. Quarry LP increased its position in shares of Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC boosted its stake in shares of Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 49 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.9%

Shares of Ameriprise Financial stock opened at $513.99 on Friday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a 50 day moving average of $522.06 and a 200 day moving average of $508.13. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $48.45 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.09 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm earned $8.72 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Morgan Stanley lowered shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $534.71.

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.