Mesirow Financial Investment Management Inc. Has $1.65 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mesirow Financial Investment Management Inc. lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,412 shares of the financial services provider’s stock after selling 50 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Ameriprise Financial were worth $1,652,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. Schroder Investment Management Group lifted its stake in shares of Ameriprise Financial by 1.2% during the 4th quarter. Schroder Investment Management Group now owns 78,263 shares of the financial services provider’s stock worth $41,522,000 after buying an additional 908 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Ameriprise Financial by 19.1% during the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider’s stock worth $866,000 after buying an additional 261 shares during the period. Franklin Resources Inc. grew its stake in Ameriprise Financial by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 252,213 shares of the financial services provider’s stock valued at $134,285,000 after buying an additional 3,634 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Ameriprise Financial by 1.5% in 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 acquiring an additional 38,141 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMP shares. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Raymond James Financial boosted their target price 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. Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $534.71.

Ameriprise Financial Stock Down 0.2%

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

Ameriprise Financial (NYSE:AMP) last posted its quarterly 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 company had revenue of $4.49 billion during 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%. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.72 EPS. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared 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 is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial’s payout ratio is currently 19.91%.

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