Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 42.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,111 shares of the financial services provider’s stock after selling 117,157 shares during the period. Brown Advisory Inc. owned about 0.17% of Ameriprise Financial worth $77,027,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new position in Ameriprise Financial during the 4th quarter worth about $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the 4th quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter worth about $36,000. Finally, SBI Securities Co. Ltd. acquired a new position in Ameriprise Financial during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $517.86.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $536.33 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $51.07 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The stock’s 50-day simple moving average is $512.36 and its 200-day simple moving average is $511.33.

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. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the company earned $8.39 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial declared that its board has initiated a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback programs 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.