Mufg Securities Americas Inc. Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mufg Securities Americas Inc. bought a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,432 shares of the financial services provider's stock, valued at approximately $762,000.

Several other large investors have also added to or reduced their stakes in AMP. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $36,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

NYSE:AMP traded up $4.51 during mid-day trading on Friday, reaching $524.06. The stock had a trading volume of 338,216 shares, compared to its average volume of 491,617. The firm has a 50 day moving average price of $479.32 and a two-hundred day moving average price of $520.19. The stock has a market capitalization of $49.90 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. 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 released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $8.39 EPS. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given 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 payout ratio is presently 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business's 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 sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMP shares. Piper Sandler raised 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. 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. Keefe, Bruyette & Woods raised 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. Royal Bank of Canada raised 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, Morgan Stanley raised 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $517.13.

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.