Nisa Investment Advisors LLC Sells 1,881 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Nisa Investment Advisors LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,641 shares of the financial services provider's stock after selling 1,881 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of Ameriprise Financial worth $24,516,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter valued at approximately $36,000. Finally, SBI Securities Co. Ltd. acquired a new position in Ameriprise Financial in the fourth quarter worth about $43,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 1.2%

NYSE:AMP traded down $6.34 during mid-day trading on Friday, reaching $536.17. The stock had a trading volume of 358,381 shares, compared to its average volume of 496,961. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $51.05 billion, a P/E ratio of 18.22, a PEG ratio of 1.17 and a beta of 1.23. The business's 50 day moving average is $516.21 and its 200 day moving average is $511.56. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $8.39 earnings per share. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMP. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada upped their target price on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday. Finally, Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $526.43.

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.