Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Boyar Asset Management Inc.

Boyar Asset Management Inc. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,745 shares of the financial services provider's stock after selling 1,980 shares during the period. Ameriprise Financial comprises 8.0% of Boyar Asset Management Inc.'s holdings, making the stock its 3rd largest position. Boyar Asset Management Inc.'s holdings in Ameriprise Financial were worth $12,110,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMP. Kapitalo Investimentos Ltda acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $103,000. AQR Capital Management LLC raised its stake in shares of Ameriprise Financial by 56.1% during the 4th quarter. AQR Capital Management LLC now owns 241,242 shares of the financial services provider's stock worth $128,444,000 after purchasing an additional 86,678 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after buying an additional 209,549 shares during the last quarter. Parkshore Wealth Management Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $850,000. Finally, Quarry LP increased its holdings in Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. 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 report on Monday, April 7th. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $509.67.

Ameriprise Financial Stock Performance

NYSE AMP traded up $13.75 on Friday, reaching $484.28. The stock had a trading volume of 341,533 shares, compared to its average volume of 491,825. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $46.40 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The firm has a fifty day moving average of $480.71 and a two-hundred day moving average of $521.17. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the company posted $8.39 earnings per share. Ameriprise Financial's revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.32%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has initiated a share buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business's 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 completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

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.