Focus Partners Wealth Buys 4,947 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Focus Partners Wealth raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,544 shares of the financial services provider's stock after acquiring an additional 4,947 shares during the period. Focus Partners Wealth's holdings in Ameriprise Financial were worth $10,573,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP stock traded up $4.51 during trading on Friday, reaching $524.06. The stock had a trading volume of 338,216 shares, compared to its average volume of 491,617. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock's 50 day moving average is $479.32 and its two-hundred day moving average is $520.26. 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 firm has a market cap of $49.90 billion, a PE ratio of 15.85, a PEG ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the company earned $8.39 earnings per share. Ameriprise Financial's revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a $1.60 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.22%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.