Silvercrest Asset Management Group LLC Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Silvercrest Asset Management Group LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 349,450 shares of the financial services provider's stock after buying an additional 9,227 shares during the quarter. Ameriprise Financial accounts for about 1.2% of Silvercrest Asset Management Group LLC's portfolio, making the stock its 5th largest holding. Silvercrest Asset Management Group LLC owned about 0.36% of Ameriprise Financial worth $186,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Rafferty Asset Management LLC raised its holdings in Ameriprise Financial by 2.8% in the 4th quarter. Rafferty Asset Management LLC now owns 34,224 shares of the financial services provider's stock worth $18,222,000 after purchasing an additional 936 shares during the period. Raiffeisen Bank International AG acquired a new position in Ameriprise Financial in the 4th quarter worth about $4,482,000. ProShare Advisors LLC raised its holdings in Ameriprise Financial by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 20,797 shares of the financial services provider's stock worth $11,073,000 after purchasing an additional 1,920 shares during the period. Quantinno Capital Management LP raised its holdings in Ameriprise Financial by 31.0% in the 4th quarter. Quantinno Capital Management LP now owns 11,421 shares of the financial services provider's stock worth $6,081,000 after purchasing an additional 2,706 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new position in Ameriprise Financial in the 4th quarter worth about $762,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $2.21 during trading on Monday, hitting $521.90. 337,979 shares of the stock were exchanged, compared to its average volume of 491,003. The company has a fifty day moving average price of $479.32 and a two-hundred day moving average price of $520.26. The company has a market cap of $49.70 billion, a PE ratio of 15.79, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the company earned $8.39 EPS. The company's quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. Ameriprise Financial's dividend payout ratio is presently 21.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMP shares. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Royal Bank of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $517.13.

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.