Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 53.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,954 shares of the financial services provider's stock after purchasing an additional 1,722 shares during the quarter. Tidal Investments LLC's holdings in Ameriprise Financial were worth $2,638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. Norges Bank acquired a new position in Ameriprise Financial during the fourth quarter worth approximately $689,272,000. JPMorgan Chase & Co. grew its position in shares of 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 last quarter. Proficio Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 79,679.4% in 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. raised its position in 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 valued at $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Finally, Northern Trust Corp raised its position 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 valued at $675,344,000 after purchasing an additional 209,549 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMP. Royal Bank of Canada raised their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Ameriprise Financial from a "hold" rating to a "sell" rating in a research report on Thursday. Raymond James upgraded 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 report on Monday, April 7th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $507.83 on Friday. The company has a market cap of $48.36 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The business has a fifty day moving average of $481.91 and a two-hundred day moving average of $520.30. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

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

Ameriprise Financial Increases Dividend

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

Ameriprise Financial announced that its Board of Directors has approved a stock buyback 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 buy 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 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.

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