Focus Partners Advisor Solutions LLC Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Focus Partners Advisor Solutions LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 112.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,637 shares of the financial services provider's stock after buying an additional 866 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Ameriprise Financial were worth $872,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AMP. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Ameriprise Financial by 18.8% in the 4th quarter. Atomi Financial Group Inc. now owns 789 shares of the financial services provider's stock valued at $420,000 after acquiring an additional 125 shares during the period. Simon Quick Advisors LLC boosted its position in shares of Ameriprise Financial by 9.2% in the 4th quarter. Simon Quick Advisors LLC now owns 510 shares of the financial services provider's stock worth $272,000 after purchasing an additional 43 shares in the last quarter. Dakota Wealth Management lifted its position in Ameriprise Financial by 2.7% during the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after acquiring an additional 21 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Ameriprise Financial by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,304 shares of the financial services provider's stock worth $14,005,000 after acquiring an additional 1,061 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. 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 note on Monday, April 7th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Stock Down 0.1%

Ameriprise Financial stock traded down $0.64 during midday trading on Thursday, reaching $509.47. The company's stock had a trading volume of 146,209 shares, compared to its average volume of 533,046. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $48.51 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.15 and a beta of 1.28. The business has a 50-day simple moving average of $483.16 and a 200-day simple moving average of $519.31.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the previous year, the firm earned $8.39 earnings per share. The business's revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share buyback 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 buy up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. 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%.

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.