Bank OZK Boosts Holdings in Ameriprise Financial, Inc. $AMP

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Bank OZK boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 20.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,396 shares of the financial services provider's stock after purchasing an additional 905 shares during the period. Ameriprise Financial makes up 1.1% of Bank OZK's investment portfolio, making the stock its 29th largest holding. Bank OZK's holdings in Ameriprise Financial were worth $2,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $36,000. Quarry LP boosted its holdings in Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its holdings in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after buying an additional 49 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.4%

Shares of NYSE AMP opened at $505.19 on Tuesday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a market capitalization of $47.62 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm's 50-day moving average is $521.49 and its two-hundred day moving average is $506.64.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company 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 firm earned $8.72 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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

Wall Street Analyst Weigh In

AMP has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $534.71.

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.

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