LRT Capital Management LLC Invests $832,000 in Ameriprise Financial, Inc. (NYSE:AMP)

LRT Capital Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,562 shares of the financial services provider's stock, valued at approximately $832,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective 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 boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Royal Bank of Canada upped 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. Raymond James upgraded 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, Morgan Stanley upped their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $517.13.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Up 0.9%

AMP stock traded up $4.51 during trading on Friday, hitting $524.06. 338,216 shares of the company traded hands, compared to its average volume of 493,378. The firm has a market capitalization of $49.90 billion, a PE ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a 50-day moving average of $479.32 and a 200-day moving average of $520.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share 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 analysts' expectations of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.39 EPS. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $1.60 per share. This is a positive change 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 presently 21.75%.

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

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.