Css LLC Il Sells 660 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

CSS LLC IL lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190 shares of the financial services provider's stock after selling 660 shares during the period. CSS LLC IL's holdings in Ameriprise Financial were worth $634,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. TCTC Holdings LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP traded up $10.05 during midday trading on Tuesday, reaching $514.51. The stock had a trading volume of 98,257 shares, compared to its average volume of 492,835. 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 company has a market capitalization of $48.99 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company's 50-day moving average is $482.33 and its 200 day moving average is $519.38. 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 earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.39 EPS. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has approved a stock buyback plan 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 reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed 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 1.24%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's payout ratio is presently 21.75%.

Analyst Ratings Changes

AMP has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note 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 target for the company in a research report on Monday, April 7th. Wall Street Zen lowered Ameriprise Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 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 research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $517.13.

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.