Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,054 shares of the financial services provider’s stock after acquiring an additional 530 shares during the period. Janus Henderson Group PLC’s holdings in Ameriprise Financial were worth $6,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMP. Jones Financial Companies Lllp grew its holdings in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after buying an additional 327 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Ameriprise Financial during the 4th quarter valued at $43,000. N.E.W. Advisory Services LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $399,000. Highland Capital Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $1,286,000. Finally, Van ECK Associates Corp grew its holdings in Ameriprise Financial by 35.6% during the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider’s stock valued at $12,000,000 after buying an additional 5,919 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.9%

Shares of AMP opened at $524.06 on Friday. 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 has a market capitalization of $49.90 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The stock’s fifty day simple moving average is $479.32 and its 200 day simple moving average is $520.19. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

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

Ameriprise Financial declared that its board has approved a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $1.60 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the 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 transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James upgraded 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 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 price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Royal Bank of Canada increased their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $517.13.

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.