Cwm LLC Purchases 1,833 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cwm LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 40.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,353 shares of the financial services provider's stock after purchasing an additional 1,833 shares during the period. Cwm LLC's holdings in Ameriprise Financial were worth $3,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the 4th quarter worth $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter valued at approximately $36,000. Quarry LP lifted its stake in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $47,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 2.9%

Ameriprise Financial stock opened at $539.82 on Friday. The stock has a market capitalization of $51.40 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. The company has a 50 day moving average of $520.25 and a 200-day moving average of $511.42. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the firm earned $8.39 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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 given a dividend of $1.60 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. 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. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. 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 research report on Thursday, July 3rd. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Royal Bank Of Canada raised their price target on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $524.71.

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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