MJP Associates Inc. ADV Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

MJP Associates Inc. ADV acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 868 shares of the financial services provider's stock, valued at approximately $462,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC raised its position in shares of Ameriprise Financial by 27.6% during the 4th quarter. Lazard Asset Management LLC now owns 16,229 shares of the financial services provider's stock valued at $8,640,000 after purchasing an additional 3,513 shares during the period. LMR Partners LLP bought a new stake in Ameriprise Financial in the 4th quarter valued at $823,000. LRT Capital Management LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $832,000. Janus Henderson Group PLC increased its holdings in Ameriprise Financial by 4.6% in the 4th quarter. Janus Henderson Group PLC now owns 12,054 shares of the financial services provider's stock valued at $6,421,000 after acquiring an additional 530 shares during the last quarter. Finally, Group One Trading LLC increased its holdings in Ameriprise Financial by 178.0% in the 4th quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock valued at $148,000 after acquiring an additional 178 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the company'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 transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $492.09 on Monday. The company has a 50 day moving average price of $476.70 and a 200-day moving average price of $519.97. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market capitalization of $46.86 billion, a PE ratio of 14.88, a PEG 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.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is 21.75%.

Ameriprise Financial announced that its board has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are 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.

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