Graham Capital Management L.P. Makes New $775,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Graham Capital Management L.P. purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,455 shares of the financial services provider's stock, valued at approximately $775,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth about $219,000. Miracle Mile Advisors LLC grew its stake in shares of Ameriprise Financial by 43.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 1,065 shares of the financial services provider's stock worth $567,000 after acquiring an additional 324 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 1,067.4% during the fourth quarter. Accurate Wealth Management LLC now owns 5,545 shares of the financial services provider's stock valued at $2,858,000 after acquiring an additional 5,070 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Ameriprise Financial by 8.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,805 shares of the financial services provider's stock valued at $2,026,000 after purchasing an additional 300 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Price Performance

Ameriprise Financial stock traded down $3.06 during midday trading on Tuesday, reaching $519.18. The company had a trading volume of 59,272 shares, compared to its average volume of 534,820. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $49.44 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.15 and a beta of 1.28. The firm's fifty day simple moving average is $480.14 and its 200-day simple moving average is $520.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $8.39 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has approved a share buyback plan 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 buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. 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 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.