MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,601 shares of the financial services provider's stock after acquiring an additional 581 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Ameriprise Financial were worth $5,644,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Ameriprise Financial during the fourth quarter valued at approximately $689,272,000. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC grew its position in shares of Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after acquiring an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after purchasing an additional 209,549 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock traded down $3.29 during midday trading on Thursday, hitting $507.83. The company's stock had a trading volume of 487,031 shares, compared to its average volume of 493,300. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a 50 day moving average of $481.60 and a two-hundred day moving average of $520.29. The firm has a market capitalization of $48.36 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28.

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, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the firm earned $8.39 earnings per share. The company's quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.26%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is presently 21.75%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMP shares. Wall Street Zen lowered Ameriprise Financial from a "hold" rating to a "sell" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. 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 report on Tuesday, March 4th. Finally, Raymond James raised shares of 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 note on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $517.13.

Ameriprise Financial 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.