OMERS ADMINISTRATION Corp Has $3.67 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

OMERS ADMINISTRATION Corp reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,900 shares of the financial services provider’s stock after selling 1,407 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ameriprise Financial were worth $3,674,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter worth about $689,272,000. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after purchasing an additional 516,437 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after buying an additional 209,549 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a report on Monday, April 7th. Finally, Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $517.13.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $520.49 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average price is $477.17 and its two-hundred day moving average price is $520.05. The firm has a market capitalization of $49.56 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the company earned $8.39 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given 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 annualized dividend and a yield of 1.23%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 9.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.