Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,478 shares of the financial services provider's stock after acquiring an additional 2,793 shares during the period. Ensign Peak Advisors Inc's holdings in Ameriprise Financial were worth $8,241,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake 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 acquiring an additional 327 shares in the last quarter. Czech National Bank grew its stake in Ameriprise Financial by 5.2% during the 4th 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. purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $43,000. N.E.W. Advisory Services LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $399,000. Finally, Highland Capital Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $1,286,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. Morgan Stanley increased 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 note on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price target 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. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, 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 research note on Monday, April 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $517.13.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 0.9%

Shares of NYSE:AMP traded up $4.51 during mid-day trading on Friday, reaching $524.06. 338,216 shares of the company were exchanged, compared to its average volume of 491,617. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28. The firm's 50-day simple moving average is $479.32 and its 200 day simple moving average is $520.26. 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 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $8.39 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current 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 issued a dividend of $1.60 per share. The ex-dividend date 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 yield of 1.22%. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial announced that its board has initiated a share buyback program 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 purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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.