AQR Capital Management LLC Has $128.44 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

AQR Capital Management LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 56.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 241,242 shares of the financial services provider's stock after buying an additional 86,678 shares during the quarter. AQR Capital Management LLC owned approximately 0.25% of Ameriprise Financial worth $128,444,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Down 0.0 %

Ameriprise Financial stock traded down $0.12 during midday trading on Monday, reaching $482.76. The stock had a trading volume of 69,917 shares, compared to its average volume of 490,226. The stock has a market capitalization of $46.26 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The firm's fifty day simple moving average is $480.71 and its 200-day simple moving average is $521.17. 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 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (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 company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period last year, the company earned $8.39 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase 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 buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders 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 is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.33%. Ameriprise Financial's payout ratio is 21.75%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was 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 owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last three months. Insiders own 0.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMP. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Raymond James raised shares of 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. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $509.67.

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.