Toronto Dominion Bank Has $29.70 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Toronto Dominion Bank grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 51.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 55,778 shares of the financial services provider's stock after acquiring an additional 19,048 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Ameriprise Financial worth $29,696,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMP. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the fourth quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP traded down $7.43 on Wednesday, reaching $510.06. The stock had a trading volume of 409,763 shares, compared to its average volume of 493,440. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $48.57 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a 50-day moving average of $483.16 and a 200-day moving average of $519.31.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (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 the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.39 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership 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 given a $1.60 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio is 21.75%.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $517.13.

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.