Lansforsakringar Fondforvaltning AB publ Takes $17.54 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,935 shares of the financial services provider's stock, valued at approximately $17,536,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after buying an additional 516,437 shares during the last quarter. Geode Capital Management LLC increased its position in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after buying an additional 38,141 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock worth $770,886,000 after buying an additional 23,655 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial during the fourth quarter worth approximately $689,272,000. Finally, Northern Trust Corp increased its position in Ameriprise Financial by 19.8% during the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after buying an additional 209,549 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMP shares. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. Royal Bank of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

NYSE:AMP traded down $1.30 during trading hours on Friday, reaching $508.62. 932,956 shares of the company were exchanged, compared to its average volume of 493,604. The company has a market capitalization of $48.43 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day moving average of $483.11 and a 200 day moving average of $517.98.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for 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%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $8.39 EPS. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders 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 1.26%. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board 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.