Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lifted by Gotham Asset Management LLC

Gotham Asset Management LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,884 shares of the financial services provider’s stock after buying an additional 180 shares during the quarter. Gotham Asset Management LLC’s holdings in Ameriprise Financial were worth $1,003,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Raymond James raised shares of 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. Finally, Morgan Stanley lifted their price target on shares of 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 research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $517.13.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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. The trade was a 39.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $524.06 on Friday. The company has a 50-day moving average of $479.32 and a two-hundred day moving average of $520.19. The stock has a market cap of $49.90 billion, a price-to-earnings ratio of 15.85, a PEG 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, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the company posted $8.39 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.60 per share. 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 dividend on an annualized basis and a dividend yield of 1.22%. Ameriprise Financial’s payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Company 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.