GSA Capital Partners LLP Has $1.21 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

GSA Capital Partners LLP increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 378.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,494 shares of the financial services provider’s stock after buying an additional 1,973 shares during the period. GSA Capital Partners LLP’s holdings in Ameriprise Financial were worth $1,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after purchasing an additional 38,141 shares in the last quarter. GAMMA Investing LLC lifted its stake in Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after buying an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ameriprise Financial by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock worth $770,886,000 after buying an additional 23,655 shares in the last quarter. Northern Trust Corp increased its stake in shares of Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock valued at $675,344,000 after acquiring an additional 209,549 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Ameriprise Financial by 17.9% in the first quarter. Federated Hermes Inc. now owns 610,322 shares of the financial services provider’s stock worth $295,463,000 after purchasing an additional 92,653 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.2%

Shares of AMP stock opened at $519.74 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market cap of $49.49 billion, a P/E ratio of 16.17, a PEG ratio of 1.11 and a beta of 1.23. The company has a 50 day moving average of $522.37 and a 200-day moving average of $511.26. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.72 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has approved 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on AMP. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $534.71.

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.