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Clear Creek Financial Management LLC Takes $237,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial logo with Finance background

Clear Creek Financial Management LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 489 shares of the financial services provider's stock, valued at approximately $237,000.

A number of other large investors have also recently made changes to their positions in AMP. Jones Financial Companies Lllp increased its position in shares of Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 327 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial in the fourth quarter worth about $43,000. GAMMA Investing LLC raised its stake in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after buying an additional 83 shares during the period. Spire Wealth Management lifted its position in shares of Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after buying an additional 683 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Ameriprise Financial by 488.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after buying an additional 806 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on AMP shares. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, Piper Sandler raised their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $517.86.

Get Our Latest Research Report on Ameriprise Financial

Ameriprise Financial Stock Up 0.1%

Ameriprise Financial stock traded up $0.62 during midday trading on Friday, hitting $543.06. 264,141 shares of the company's stock were exchanged, compared to its average volume of 496,189. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $51.71 billion, a PE ratio of 18.45, a P/E/G ratio of 2.03 and a beta of 1.23. The firm has a 50-day moving average of $508.17 and a two-hundred day moving average of $511.31. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly 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 return on equity of 68.93% and a net margin of 17.14%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company posted $8.39 EPS. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm 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 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 1.18%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its board has initiated a share buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Company 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.

See Also

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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