TCTC Holdings LLC Purchases 49 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

TCTC Holdings LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 100.0% during the first quarter, Holdings Channel reports. The firm owned 98 shares of the financial services provider’s stock after acquiring an additional 49 shares during the period. TCTC Holdings LLC’s holdings in Ameriprise Financial were worth $47,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of Ameriprise Financial by 8,493.8% during the first quarter. Meeder Asset Management Inc. now owns 2,750 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,718 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Ameriprise Financial by 2.9% during the first quarter. Meeder Advisory Services Inc. now owns 4,714 shares of the financial services provider’s stock valued at $2,282,000 after purchasing an additional 135 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Ameriprise Financial by 15.9% during the first quarter. Fiera Capital Corp now owns 14,902 shares of the financial services provider’s stock valued at $7,214,000 after purchasing an additional 2,048 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 21 shares in the last quarter. Finally, Fielder Capital Group LLC lifted its position in shares of Ameriprise Financial by 4.0% during the first quarter. Fielder Capital Group LLC now owns 2,125 shares of the financial services provider’s stock valued at $1,029,000 after purchasing an additional 82 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMP shares. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $533.86.

Ameriprise Financial Stock Performance

NYSE AMP opened at $521.11 on Wednesday. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a 50-day simple moving average of $522.22 and a 200 day simple moving average of $511.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62. The company has a market capitalization of $49.62 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $8.72 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s payout ratio is 19.91%.

Ameriprise Financial declared that its board has authorized a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.