OMERS ADMINISTRATION Corp Has $3.67 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

OMERS ADMINISTRATION Corp decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,900 shares of the financial services provider's stock after selling 1,407 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Ameriprise Financial were worth $3,674,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NDVR Inc. increased its stake in Ameriprise Financial by 8.1% during the fourth quarter. NDVR Inc. now owns 640 shares of the financial services provider's stock worth $341,000 after acquiring an additional 48 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ameriprise Financial by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,601 shares of the financial services provider's stock valued at $5,644,000 after purchasing an additional 581 shares during the last quarter. MJP Associates Inc. ADV purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $462,000. Lazard Asset Management LLC raised its stake 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 worth $8,640,000 after buying an additional 3,513 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $823,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their target price 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 target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Morgan Stanley lifted their price target 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. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a report on Monday, April 7th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $1.08 during trading hours on Monday, hitting $523.04. 67,876 shares of the stock were exchanged, compared to its average volume of 489,947. The company's fifty day simple moving average is $479.32 and its two-hundred day simple moving average is $520.26. The company has a market cap of $49.80 billion, a PE ratio of 15.82, a price-to-earnings-growth 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 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 posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) 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 analyst estimates of $4.45 billion. During the same quarter in the prior year, the business posted $8.39 EPS. The business's revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business 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 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 of this dividend is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.22%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has authorized a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

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 shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by corporate insiders.

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.