Quantinno Capital Management LP Purchases 2,706 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Quantinno Capital Management LP boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,421 shares of the financial services provider's stock after acquiring an additional 2,706 shares during the period. Quantinno Capital Management LP's holdings in Ameriprise Financial were worth $6,081,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after buying an additional 516,437 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ameriprise Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after buying an additional 38,141 shares during the last quarter. Norges Bank bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $689,272,000. Northern Trust Corp raised its stake in Ameriprise Financial by 19.8% during the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after buying an additional 209,549 shares during the last quarter. Finally, Amundi boosted its holdings in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after acquiring an additional 208,195 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. 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 research report on Wednesday, May 7th. 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. 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 research note on Tuesday, March 4th. Finally, Royal Bank of Canada lifted 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. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of AMP traded down $3.90 during mid-day trading on Tuesday, hitting $518.34. The company's stock had a trading volume of 422,753 shares, compared to its average volume of 491,319. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50-day simple moving average of $480.14 and a 200 day simple moving average of $520.36. The firm has a market capitalization of $49.36 billion, a P/E ratio of 15.68, 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.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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. 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 revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $8.39 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board 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 dividend yield of 1.23%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is currently 21.75%.

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.