UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 23,655 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,447,863 shares of the financial services provider's stock after purchasing an additional 23,655 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.49% of Ameriprise Financial worth $770,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cerro Pacific Wealth Advisors LLC increased its holdings in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 20 shares in the last quarter. Dakota Wealth Management raised its holdings in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after buying an additional 21 shares during the last quarter. Finally, Abel Hall LLC lifted its stake in shares of Ameriprise Financial by 4.2% in the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMP. Piper Sandler boosted their price objective 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. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective 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. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $517.13.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This represents a 39.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Down 0.4%

AMP stock opened at $521.90 on Tuesday. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The business's 50-day moving average is $480.14 and its two-hundred day moving average is $520.36. 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 quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $8.39 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

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

About Ameriprise Financial

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.

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