ProShare Advisors LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

ProShare Advisors LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,797 shares of the financial services provider’s stock after buying an additional 1,920 shares during the quarter. ProShare Advisors LLC’s holdings in Ameriprise Financial were worth $11,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quantinno Capital Management LP raised its position in shares of Ameriprise Financial by 31.0% during the 4th quarter. Quantinno Capital Management LP now owns 11,421 shares of the financial services provider’s stock valued at $6,081,000 after buying an additional 2,706 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $762,000. Man Group plc grew its holdings in shares of Ameriprise Financial by 32.5% during the 4th quarter. Man Group plc now owns 43,724 shares of the financial services provider’s stock valued at $23,280,000 after purchasing an additional 10,736 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Ameriprise Financial by 61.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 83,490 shares of the financial services provider’s stock valued at $44,746,000 after purchasing an additional 31,791 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $1,702,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AMP. Royal Bank of Canada increased their target price on shares of 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 shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley raised their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $524.06 on Friday. The firm has a market cap of $49.90 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month 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. The company’s fifty day simple moving average is $479.32 and its two-hundred day simple moving average is $520.15.

Ameriprise Financial (NYSE:AMP) 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 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 revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $8.39 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business 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 dividend of $1.60 per share. This is a positive change 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 presently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a share 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 reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.