Susquehanna Fundamental Investments LLC Invests $1.73 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Susquehanna Fundamental Investments LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,246 shares of the financial services provider's stock, valued at approximately $1,728,000.

Other hedge funds also recently bought and sold shares of the company. DE Burlo Group Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth approximately $3,748,000. Virtus ETF Advisers LLC boosted its position in shares of Ameriprise Financial by 11.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,237 shares of the financial services provider's stock valued at $1,191,000 after purchasing an additional 223 shares during the period. Coldstream Capital Management Inc. grew its position in Ameriprise Financial by 4.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,197 shares of the financial services provider's stock valued at $2,235,000 after purchasing an additional 188 shares in the last quarter. Hancock Whitney Corp lifted its stake in shares of Ameriprise Financial by 8.9% in the fourth quarter. Hancock Whitney Corp now owns 2,946 shares of the financial services provider's stock worth $1,569,000 after buying an additional 242 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Ameriprise Financial by 9.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,791 shares of the financial services provider's stock worth $1,486,000 after buying an additional 251 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on 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 sold a total of 11,636 shares of company stock worth $6,263,989 in the last 90 days. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

AMP traded down $2.50 during midday trading on Tuesday, hitting $478.31. 46,051 shares of the company traded hands, compared to its average volume of 489,360. The company's 50-day moving average is $479.81 and its 200 day moving average is $520.87. The firm has a market capitalization of $45.83 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $8.39 earnings per share. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research note on Monday, April 7th. Piper Sandler boosted 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 cut their price target on Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $509.67.

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.