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

Nisa Investment Advisors LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,641 shares of the financial services provider's stock after selling 1,881 shares during the quarter. Nisa Investment Advisors LLC owned 0.05% of Ameriprise Financial worth $24,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AMP. SBI Securities Co. Ltd. acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $43,000. GAMMA Investing LLC boosted its holdings in shares of Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after acquiring an additional 83 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after acquiring an additional 683 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after acquiring an additional 806 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after acquiring an additional 1,433 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday. 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 for the company in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. One investment analyst has 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 company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $526.43.

Ameriprise Financial Trading Down 1.2%

Shares of Ameriprise Financial stock traded down $6.34 on Friday, hitting $536.17. 358,381 shares of the company's stock traded hands, compared to its average volume of 497,559. The firm's 50-day moving average price is $516.21 and its two-hundred day moving average price is $511.16. The stock has a market capitalization of $51.05 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.39 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 given 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 annualized dividend and a dividend yield of 1.19%. Ameriprise Financial's payout ratio is presently 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock 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 reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are generally a sign 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.