Forsta AP Fonden Has $16.32 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Forsta AP Fonden reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,700 shares of the financial services provider’s stock after selling 800 shares during the period. Forsta AP Fonden’s holdings in Ameriprise Financial were worth $16,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savvy Advisors Inc. grew its stake in shares of Ameriprise Financial by 10.1% in the first quarter. Savvy Advisors Inc. now owns 457 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 42 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Ameriprise Financial by 46.7% in the first quarter. National Bank of Canada FI now owns 87,739 shares of the financial services provider’s stock valued at $42,485,000 after acquiring an additional 27,922 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at about $858,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ameriprise Financial by 9.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 169,807 shares of the financial services provider’s stock valued at $82,205,000 after acquiring an additional 14,714 shares in the last quarter. Finally, CenterBook Partners LP grew its stake in shares of Ameriprise Financial by 59.8% in the first quarter. CenterBook Partners LP now owns 1,827 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 684 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of several research reports. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley downgraded shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $534.71.

Ameriprise Financial Trading Up 1.2%

Shares of Ameriprise Financial stock opened at $504.51 on Friday. The company has a market capitalization of $47.56 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.06 and a beta of 1.24. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm’s 50-day moving average price is $521.95 and its two-hundred day moving average price is $509.54.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. 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 business earned $8.72 earnings per share. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 19.91%.

Ameriprise Financial declared that its board has approved a share repurchase 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 reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management 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.