Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Reduced by Redwood Investment Management LLC

Redwood Investment Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,703 shares of the financial services provider's stock after selling 673 shares during the period. Redwood Investment Management LLC's holdings in Ameriprise Financial were worth $1,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TCTC Holdings LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the firm'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 owns 7,237 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $2.21 during trading hours on Monday, hitting $521.90. 337,979 shares of the company's stock traded hands, compared to its average volume of 491,003. The company's fifty day simple moving average is $479.32 and its two-hundred day simple moving average is $520.26. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $8.39 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The business also recently announced 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 of this dividend is Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial's payout ratio is 21.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMP. Piper Sandler raised their target price 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 lifted their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Raymond James upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Company 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.