Centiva Capital LP Purchases Shares of 7,487 Ameriprise Financial, Inc. (NYSE:AMP)

Centiva Capital LP acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,487 shares of the financial services provider's stock, valued at approximately $3,986,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 327 shares during the last quarter. Czech National Bank raised its holdings in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after acquiring an additional 1,033 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Ameriprise Financial in the fourth quarter valued at $43,000. N.E.W. Advisory Services LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at $399,000. Finally, Highland Capital Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth $1,286,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Down 0.9 %

Shares of Ameriprise Financial stock opened at $480.35 on Tuesday. The stock has a market capitalization of $46.02 billion, a PE ratio of 14.53, 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. The company has a 50-day simple moving average of $479.81 and a two-hundred day simple moving average of $520.87. 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 posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share 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 firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the previous year, the business earned $8.39 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.33%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMP. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Piper Sandler lifted 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. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $509.67.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction 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 $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 this link. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.73% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.