Stifel Financial Corp Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Stifel Financial Corp reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,100 shares of the financial services provider's stock after selling 4,259 shares during the quarter. Stifel Financial Corp owned approximately 0.08% of Ameriprise Financial worth $41,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in Ameriprise Financial by 2.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 8,637 shares of the financial services provider's stock valued at $4,599,000 after buying an additional 178 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Ameriprise Financial by 99.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,662 shares of the financial services provider's stock worth $3,547,000 after purchasing an additional 3,325 shares during the last quarter. Transce3nd LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $192,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Ameriprise Financial by 8.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,678 shares of the financial services provider's stock worth $3,556,000 after buying an additional 523 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in Ameriprise Financial by 9.0% in the fourth quarter. Norinchukin Bank The now owns 4,516 shares of the financial services provider's stock valued at $2,404,000 after buying an additional 372 shares during the period. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.1 %

AMP traded up $0.39 during midday trading on Tuesday, hitting $468.77. The company had a trading volume of 164,021 shares, compared to its average volume of 489,772. The company has a market capitalization of $44.91 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.15 and a beta of 1.23. The stock's 50 day moving average price is $485.25 and its 200 day moving average price is $522.27. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly 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 return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the company earned $8.39 earnings per share. The company's quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has initiated a stock buyback program 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 repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business 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 dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.37%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is 21.75%.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction 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 transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last three months. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMP shares. 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. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating for the company in a research report on Tuesday. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $516.33.

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.