Marshall Wace LLP Has $3.46 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Marshall Wace LLP raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,200.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,503 shares of the financial services provider's stock after purchasing an additional 6,003 shares during the quarter. Marshall Wace LLP's holdings in Ameriprise Financial were worth $3,462,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Ameriprise Financial in the fourth quarter valued at $689,272,000. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC grew its position in Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after buying an additional 371,306 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after buying an additional 208,195 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded up $5.64 during trading on Thursday, hitting $476.66. 64,696 shares of the stock traded hands, compared to its average volume of 489,711. The stock has a market cap of $45.67 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a 50 day simple moving average of $482.67 and a 200 day simple moving average of $521.56. 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 one year low of $385.74 and a one year high of $582.05.

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

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

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a dividend of $1.60 per share. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. 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 boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Morgan Stanley raised 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 note on Tuesday, March 4th. 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 report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $509.67.

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.