Brown Advisory Inc. Has $147.09 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Brown Advisory Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,268 shares of the financial services provider’s stock after selling 4,029 shares during the quarter. Brown Advisory Inc. owned 0.28% of Ameriprise Financial worth $147,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMP. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter valued at about $689,272,000. JPMorgan Chase & Co. grew 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 worth $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after purchasing an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Ameriprise Financial by 19.8% in the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after purchasing an additional 209,549 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $484.28 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock has a market capitalization of $46.40 billion, a PE ratio of 14.65, a PEG ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s fifty day moving average is $480.71 and its 200-day moving average is $521.17.

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, beating 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 during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company posted $8.39 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $1.60 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMP shares. Keefe, Bruyette & Woods reduced 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 report on Tuesday, April 29th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. 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. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $509.67.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s 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 owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.57% of the company’s stock.

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.