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Fiera Capital Corp Purchases 2,048 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial logo with Finance background

Key Points

  • Fiera Capital Corp has increased its stake in Ameriprise Financial, Inc. by 15.9%, acquiring an additional 2,048 shares, bringing its total holdings to 14,902 shares valued at approximately $7.21 million.
  • Ameriprise Financial recently reported quarterly earnings of $9.11 EPS, surpassing estimates of $9.00, with a revenue of $4.49 billion, indicating a year-over-year revenue increase of 2.2%.
  • The company has initiated a share repurchase plan allowing it to buy back up to $4.5 billion worth of shares, indicating management's belief that the stock is undervalued.
  • Interested in Ameriprise Financial? Here are five stocks we like better.

Fiera Capital Corp grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,902 shares of the financial services provider's stock after acquiring an additional 2,048 shares during the quarter. Fiera Capital Corp's holdings in Ameriprise Financial were worth $7,214,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $36,000. Quarry LP lifted its position in shares of Ameriprise Financial by 148.6% in the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after buying an additional 52 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Ameriprise Financial by 68.7% in the first quarter. Sound Income Strategies LLC now owns 113 shares of the financial services provider's stock valued at $55,000 after buying an additional 46 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMP. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus price target of $534.71.

Read Our Latest Stock Report on AMP

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $16.58 during trading on Friday, reaching $501.61. 496,021 shares of the company traded hands, compared to its average volume of 426,394. The firm has a market capitalization of $47.76 billion, a PE ratio of 15.61, a PEG ratio of 1.11 and a beta of 1.24. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company's 50 day moving average is $522.52 and its two-hundred day moving average is $511.09.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. Ameriprise Financial's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $8.72 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

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

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

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