LMR Partners LLP Purchases Shares of 1,545 Ameriprise Financial, Inc. (NYSE:AMP)

LMR Partners LLP bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,545 shares of the financial services provider's stock, valued at approximately $823,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. Jones Financial Companies Lllp raised its holdings in Ameriprise Financial by 24.3% during the 4th 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 during the last quarter. Czech National Bank raised its stake in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock worth $11,200,000 after buying an additional 1,033 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $43,000. N.E.W. Advisory Services LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $399,000. Finally, Highland Capital Management LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $1,286,000. Institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated 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 sale, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMP. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Royal Bank of Canada increased their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. 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. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Trading Up 0.9%

Shares of AMP traded up $4.51 during trading hours on Friday, reaching $524.06. The stock had a trading volume of 338,216 shares, compared to its average volume of 493,378. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a 50-day moving average of $479.32 and a 200 day moving average of $520.15. The company has a market cap of $49.90 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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 net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the prior year, the company earned $8.39 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has initiated a stock buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits 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.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $1.60 dividend. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

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.