Brooklyn FI LLC Makes New $1.20 Million Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Brooklyn FI LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,240 shares of the financial services provider’s stock, valued at approximately $1,195,000.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $26,000. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMP shares. Wall Street Zen downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. 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. Raymond James upgraded 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 raised their price target 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Stock Down 0.7%

Ameriprise Financial stock opened at $504.70 on Monday. The firm has a market cap of $48.06 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week 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 firm has a 50 day moving average price of $482.22 and a two-hundred day moving average price of $519.72.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $8.39 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.27%. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock repurchase 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 buy up to 9.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.