8,448 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,448 shares of the financial services provider's stock, valued at approximately $4,482,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Capital Investment Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $219,000. Miracle Mile Advisors LLC lifted its stake in shares of Ameriprise Financial by 43.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,065 shares of the financial services provider's stock valued at $567,000 after purchasing an additional 324 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $109,000. Finally, USA Financial Formulas acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $179,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMP. Piper Sandler increased their price target 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 research note on Monday, April 7th. Keefe, Bruyette & Woods raised their price objective on 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 raised their price objective 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. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Stock Down 0.4%

Shares of AMP traded down $2.21 during midday trading on Monday, hitting $521.90. The stock had a trading volume of 337,979 shares, compared to its average volume of 491,003. The company has a 50 day simple moving average of $479.32 and a two-hundred day simple moving average of $520.26. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market cap of $49.70 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

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 (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the business posted $8.39 EPS. The company's revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a $1.60 dividend. This is an increase 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 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial declared 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 buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.73% of the company's stock.

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.