Revisor Wealth Management LLC Invests $235,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Revisor Wealth Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 486 shares of the financial services provider's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after buying an additional 516,437 shares during the period. Geode Capital Management LLC grew its position in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after buying an additional 38,141 shares during the period. GAMMA Investing LLC grew its position in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after buying an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after buying an additional 23,655 shares during the period. Finally, Norges Bank acquired a new stake in Ameriprise Financial during the fourth quarter valued at $689,272,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $0.62 during trading on Friday, hitting $543.06. The company had a trading volume of 264,141 shares, compared to its average volume of 496,189. The stock has a fifty day simple moving average of $509.70 and a two-hundred day simple moving average of $511.32. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $51.71 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $8.39 earnings per share. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. 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 1.18%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial declared that its board has authorized a stock buyback 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 repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMP shares. Royal Bank Of Canada raised 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. Keefe, Bruyette & Woods raised 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 report on Wednesday, May 7th. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $517.86.

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.