Oak Thistle LLC Invests $3.10 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Oak Thistle LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,394 shares of the financial services provider's stock, valued at approximately $3,095,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares in the last quarter. Norges Bank acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at $689,272,000. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ameriprise Financial by 19.8% in the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after purchasing an additional 209,549 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at $100,138,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 3.5%

Shares of AMP stock traded down $18.96 on Thursday, reaching $518.00. 864,518 shares of the stock were exchanged, compared to its average volume of 518,489. The stock has a 50 day moving average price of $522.32 and a 200 day moving average price of $511.58. The stock has a market cap of $49.32 billion, a PE ratio of 17.60, a P/E/G ratio of 1.15 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 released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the company posted $8.72 EPS. The company's revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its board has authorized a share buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their price target on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price target for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Finally, Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $524.71.

Ameriprise Financial 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.