Css LLC Il Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Css LLC Il trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 35.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,190 shares of the financial services provider’s stock after selling 660 shares during the period. Css LLC Il’s holdings in Ameriprise Financial were worth $634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. Norges Bank purchased a new position in Ameriprise Financial in the fourth quarter valued at approximately $689,272,000. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC raised its stake 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 valued at $197,943,000 after acquiring 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 4th 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 acquiring an additional 338,298 shares during the period. Finally, Northern Trust Corp lifted its holdings 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 valued at $675,344,000 after acquiring an additional 209,549 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Raymond James upgraded 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. 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 report on Wednesday, May 7th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $517.13.

Ameriprise Financial Trading Down 1.3%

NYSE:AMP opened at $512.20 on Thursday. The stock has a market cap of $48.77 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. 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 business’s 50-day simple moving average is $481.60 and its 200 day simple moving average is $520.29.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The company 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%. Ameriprise Financial’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.39 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.25%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors 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.