Forsta AP Fonden Sells 800 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Forsta AP Fonden has reduced its stake in Ameriprise Financial by 2.3%, selling 800 shares and holding a total of 33,700 shares worth approximately $16.3 million.
• Numerous institutional investors have adjusted their positions in Ameriprise Financial, with CenterBook Partners LP increasing its stake by 59.8% in the first quarter.
• Ameriprise Financial announced a quarterly dividend of $1.60 to be paid on August 18th, marking an annualized dividend yield of 1.3%.

Forsta AP Fonden reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,700 shares of the financial services provider's stock after selling 800 shares during the period. Forsta AP Fonden's holdings in Ameriprise Financial were worth $16,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth approximately $36,000. Quarry LP lifted its stake 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 worth $46,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC lifted its stake in shares of Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after acquiring an additional 49 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Ameriprise Financial Stock Up 2.0%

Shares of NYSE AMP traded up $10.00 during midday trading on Tuesday, hitting $516.65. 371,172 shares of the stock traded hands, compared to its average volume of 508,731. The company has a market cap of $48.70 billion, a PE ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 1.24. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The business has a 50 day moving average price of $521.88 and a two-hundred day moving average price of $508.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

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

Ameriprise Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is currently 19.91%.

Ameriprise Financial announced that its board has approved a stock buyback plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership 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.