1,189 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,189 shares of the financial services provider's stock, valued at approximately $633,000.

Several other institutional investors also recently bought and sold shares of AMP. Aptus Capital Advisors LLC raised its position in shares of Ameriprise Financial by 48.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,249 shares of the financial services provider's stock valued at $665,000 after buying an additional 405 shares during the last quarter. Allegheny Financial Group purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $201,000. Adapt Wealth Advisors LLC boosted its holdings in shares of Ameriprise Financial by 3.1% during the 4th quarter. Adapt Wealth Advisors LLC now owns 1,995 shares of the financial services provider's stock worth $1,062,000 after purchasing an additional 60 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its position in shares of Ameriprise Financial by 2.9% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 2,529 shares of the financial services provider's stock valued at $1,347,000 after purchasing an additional 71 shares in the last quarter. Finally, South Plains Financial Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $211,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Royal Bank of Canada lifted their price target 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. Morgan Stanley increased their price objective 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. Piper Sandler lifted 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. Finally, Raymond James upgraded 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $517.13.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $2.21 on Monday, reaching $521.90. 337,979 shares of the company were exchanged, compared to its average volume of 491,003. 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 1-year low of $385.74 and a 1-year high of $582.05. The company has a 50-day moving average of $479.32 and a 200-day moving average of $520.26. The firm 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.

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

Ameriprise Financial Increases Dividend

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

Ameriprise Financial announced that its Board of Directors has approved 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 buy 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 shares are undervalued.

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.