Stratos Investment Management LLC Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Stratos Investment Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 45.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,391 shares of the financial services provider’s stock after purchasing an additional 436 shares during the quarter. Stratos Investment Management LLC’s holdings in Ameriprise Financial were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HighPoint Advisor Group LLC grew its stake in shares of Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares during the last quarter. Forum Financial Management LP lifted its holdings in shares of Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after buying an additional 21 shares during the period. Horizon Investments LLC lifted its holdings in shares of Ameriprise Financial by 1.4% in the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock valued at $851,000 after buying an additional 22 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Ameriprise Financial by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock valued at $852,000 after buying an additional 22 shares during the period. Finally, Apella Capital LLC lifted its holdings in shares of Ameriprise Financial by 4.1% in the 1st quarter. Apella Capital LLC now owns 581 shares of the financial services provider’s stock valued at $275,000 after buying an additional 23 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ameriprise Financial Stock Down 0.0%

AMP opened at $536.33 on Wednesday. The business’s fifty day moving average is $512.36 and its two-hundred day moving average is $511.33. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $51.07 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.01 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. Ameriprise Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.39 earnings per share. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s payout ratio is 21.75%.

Ameriprise Financial 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.