617 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by OneAscent Investment Solutions LLC

Key Points

• OneAscent Investment Solutions LLC acquired 617 shares of Ameriprise Financial, valued at approximately $299,000, as per their recent 13F filing with the SEC.
• Analysts have mixed views on Ameriprise Financial, with a consensus rating of "Hold" and an average price target of $534.71.
• Ameriprise Financial recently announced a quarterly dividend of $1.60 per share and initiated a share buyback plan worth $4.50 billion.

OneAscent Investment Solutions LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 617 shares of the financial services provider's stock, valued at approximately $299,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $36,000. Quarry LP boosted its stake in Ameriprise Financial by 148.6% during the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC boosted its stake in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 49 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $10.94 during midday trading on Friday, reaching $502.75. The stock had a trading volume of 424,794 shares, compared to its average volume of 435,926. The firm has a market capitalization of $47.40 billion, a PE ratio of 15.64, a P/E/G ratio of 1.07 and a beta of 1.24. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm's 50-day moving average price is $521.74 and its 200 day moving average price is $507.19.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.72 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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 1.3%. The ex-dividend date is Monday, August 4th. Ameriprise Financial's payout ratio is presently 19.91%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada boosted 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, July 30th. Finally, Raymond James Financial boosted 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. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $534.71.

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.