Liberty Square Wealth Partners LLC Acquires Shares of 577 Ameriprise Financial, Inc. (NYSE:AMP)

Liberty Square Wealth Partners LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 577 shares of the financial services provider’s stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SRS Capital Advisors Inc. raised its holdings in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after purchasing an additional 20 shares during the period. Dakota Wealth Management raised its holdings in shares of Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 21 shares during the period. Abel Hall LLC raised its holdings in shares of Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 21 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after purchasing an additional 21 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMP. 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. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley increased their price objective 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. Wall Street Zen cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Stock Down 0.7%

AMP stock opened at $504.70 on Friday. The firm’s 50-day simple moving average is $482.22 and its 200 day simple moving average is $519.91. The stock has a market cap of $48.06 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during 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%. Ameriprise Financial’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.39 EPS. As a group, sell-side analysts predict 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 was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.