N.E.W. Advisory Services LLC Purchases 749 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• N.E.W. Advisory Services LLC increased its stake in Ameriprise Financial by 100% in Q1, owning a total of 1,498 shares worth $725,000.
• Ameriprise Financial has announced a quarterly dividend of $1.60 per share, with an annualized yield of 1.24% and a payout ratio of 19.91%.
• Wall Street analysts have mixed ratings on Ameriprise Financial, with a consensus average rating of "Hold" and a price target of $533.86.

N.E.W. Advisory Services LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,498 shares of the financial services provider's stock after acquiring an additional 749 shares during the quarter. N.E.W. Advisory Services LLC's holdings in Ameriprise Financial were worth $725,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth about $36,000. Quarry LP increased its holdings in Ameriprise Financial by 148.6% in the 4th 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 last quarter. Finally, TCTC Holdings LLC increased its holdings in Ameriprise Financial by 100.0% in the 1st 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 last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Down 2.9%

AMP stock traded down $14.79 during midday trading on Friday, hitting $503.40. The company had a trading volume of 285,172 shares, compared to its average volume of 515,229. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock's 50 day moving average price is $522.58 and its 200 day moving average price is $511.26. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The company 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 firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.72 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on AMP shares. Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price 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. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" 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. Finally, Piper Sandler upped their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $534.71.

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.