ProShare Advisors LLC Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

ProShare Advisors LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,797 shares of the financial services provider's stock after purchasing an additional 1,920 shares during the period. ProShare Advisors LLC's holdings in Ameriprise Financial were worth $11,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AMP. Jones Financial Companies Lllp lifted its holdings in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 327 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $43,000. N.E.W. Advisory Services LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $399,000. Highland Capital Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $1,286,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Ameriprise Financial by 35.6% during the fourth quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock worth $12,000,000 after purchasing an additional 5,919 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the company'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 transaction of $2,499,128.52. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Down 0.7%

AMP traded down $3.90 during mid-day trading on Tuesday, hitting $518.34. The stock had a trading volume of 422,753 shares, compared to its average volume of 491,319. The stock's fifty day simple moving average is $480.14 and its 200-day simple moving average is $520.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $49.36 billion, a price-to-earnings ratio of 15.68, 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.

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, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm earned $8.39 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has approved a stock repurchase plan 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 buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMP shares. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note 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. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $517.13.

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.