Liberty Square Wealth Partners LLC Acquires Shares of 577 Ameriprise Financial, Inc. (NYSE:AMP)

Liberty Square Wealth Partners LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 577 shares of the financial services provider's stock, valued at approximately $315,000.

Several other hedge funds have also modified their holdings of AMP. Jones Financial Companies Lllp lifted its holdings in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after acquiring an additional 327 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Ameriprise Financial in the fourth quarter worth about $43,000. N.E.W. Advisory Services LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $399,000. Highland Capital Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $1,286,000. Finally, Van ECK Associates Corp lifted its stake in shares of Ameriprise Financial by 35.6% during the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock worth $12,000,000 after acquiring an additional 5,919 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Down 0.3%

AMP traded down $1.33 during mid-day trading on Friday, hitting $508.59. 183,763 shares of the stock were exchanged, compared to its average volume of 492,699. The firm's fifty day moving average is $483.17 and its two-hundred day moving average is $518.93. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a market cap of $48.43 billion, a PE ratio of 15.39, a PEG ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the business earned $8.39 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts forecast 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 stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed 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 represents a $6.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is currently 21.75%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods increased 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. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $517.13.

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.