Brooklyn FI LLC Takes $1.20 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Brooklyn FI LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,240 shares of the financial services provider's stock, valued at approximately $1,195,000.

A number of other institutional investors have also recently bought and sold shares of AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the fourth quarter valued at $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

AMP traded down $1.30 on Friday, hitting $508.62. 932,956 shares of the stock traded hands, compared to its average volume of 496,008. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $48.43 billion, a PE ratio of 15.38, a P/E/G ratio of 1.15 and a beta of 1.28. The business has a fifty day moving average price of $483.11 and a two-hundred day moving average price of $518.57.

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

Ameriprise Financial declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.26%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's payout ratio is currently 21.75%.

Ameriprise Financial Company 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.