Ethic Inc. Has $8.56 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ethic Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 17.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,074 shares of the financial services provider's stock after purchasing an additional 2,344 shares during the quarter. Ethic Inc.'s holdings in Ameriprise Financial were worth $8,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Morgan Stanley lifted 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. Piper Sandler upped their target price 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. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Performance

NYSE AMP traded up $4.77 during trading hours on Tuesday, reaching $520.49. The company's stock had a trading volume of 393,159 shares, compared to its average volume of 492,750. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $49.56 billion, a PE ratio of 15.74, a PEG ratio of 1.15 and a beta of 1.28. The business has a 50-day simple moving average of $476.81 and a 200 day simple moving average of $520.04.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $8.39 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a dividend of $1.60 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

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

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's 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 owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

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.