Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 2,400 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has increased its stake in Ameriprise Financial by 13.2%, owning 20,641 shares valued at approximately $9.99 million.
• Several institutional investors, including JPMorgan Chase and Goldman Sachs, have significantly increased their stakes in Ameriprise Financial, reflecting strong institutional interest in the company.
• A stock buyback program of up to $4.50 billion has been initiated by Ameriprise Financial, indicating management's belief that the company's stock is undervalued.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,641 shares of the financial services provider's stock after acquiring an additional 2,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ameriprise Financial were worth $9,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the period. GAMMA Investing LLC boosted its position in shares of Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after acquiring an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ameriprise Financial by 1.7% during the 4th 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 in the last quarter. Northern Trust Corp raised its holdings in shares of Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after buying an additional 209,549 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after buying an additional 266,631 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMP. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Stock Performance

AMP traded down $1.0110 during midday trading on Wednesday, reaching $505.2490. The company had a trading volume of 443,039 shares, compared to its average volume of 440,328. The company has a market cap of $47.63 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.08 and a beta of 1.24. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $521.06 and a two-hundred day moving average of $506.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.72 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio is 19.91%.

Ameriprise Financial declared that its board has authorized a share repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is 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.