Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 102.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 780 shares of the financial services provider’s stock after buying an additional 394 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Ameriprise Financial were worth $415,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMP shares. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $492.09 on Monday. The company has a market cap of $46.86 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.15 and a beta of 1.28. The firm’s 50 day moving average is $476.70 and its two-hundred day moving average is $519.97. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the firm posted $8.39 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its board has initiated a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

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.