Crossmark Global Holdings Inc. Acquires 2,920 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Crossmark Global Holdings Inc. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,890 shares of the financial services provider's stock after buying an additional 2,920 shares during the period. Crossmark Global Holdings Inc.'s holdings in Ameriprise Financial were worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after buying an additional 516,437 shares during the period. Geode Capital Management LLC increased its stake in shares of Ameriprise Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after buying an additional 38,141 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 valued at $1,023,461,000 after buying an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ameriprise Financial by 1.7% in the fourth 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 buying an additional 23,655 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $689,272,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday. Raymond James Financial upgraded 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 report on Monday, April 7th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $522.14.

Ameriprise Financial Stock Up 0.6%

Shares of AMP stock traded up $3.20 during trading hours on Wednesday, reaching $539.27. The company had a trading volume of 350,630 shares, compared to its average volume of 496,137. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day simple moving average of $512.36 and a 200-day simple moving average of $511.33. The company has a market cap of $51.35 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the company earned $8.39 earnings per share. The company's revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a share buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.