J.W. Cole Advisors Inc. increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 342.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,340 shares of the financial services provider's stock after purchasing an additional 2,585 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Ameriprise Financial were worth $1,617,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings 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 worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $1,407,607,000 after buying an additional 38,141 shares in the last quarter. GAMMA Investing LLC grew its position in Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after buying an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 23,655 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $689,272,000. Institutional investors own 83.95% of the company's stock.
Analysts Set New Price Targets
AMP has been the subject of a number of analyst reports. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial raised 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $524.71.
Check Out Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Price Performance
AMP stock traded down $18.96 during trading on Thursday, hitting $518.00. 864,518 shares of the stock traded hands, compared to its average volume of 518,489. The stock has a market cap of $49.32 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The company has a 50 day simple moving average of $522.32 and a 200 day simple moving average of $511.58.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company earned $8.72 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial declared that its board has authorized a stock repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Ameriprise Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.
Ameriprise Financial Profile
(
Free Report)
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.
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