Twinbeech Capital LP Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Twinbeech Capital LP purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,152 shares of the financial services provider’s stock, valued at approximately $9,132,000.

Several other large investors also recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in Ameriprise Financial by 53.3% during the fourth quarter. Tidal Investments LLC now owns 4,954 shares of the financial services provider’s stock worth $2,638,000 after purchasing an additional 1,722 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Ameriprise Financial by 51.9% in the fourth quarter. Toronto Dominion Bank now owns 55,778 shares of the financial services provider’s stock valued at $29,696,000 after purchasing an additional 19,048 shares in the last quarter. Snowden Capital Advisors LLC boosted its holdings in Ameriprise Financial by 11.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 1,979 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 210 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Ameriprise Financial by 2.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 349,450 shares of the financial services provider’s stock valued at $186,058,000 after purchasing an additional 9,227 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in Ameriprise Financial by 2.8% in the fourth quarter. Rafferty Asset Management LLC now owns 34,224 shares of the financial services provider’s stock valued at $18,222,000 after purchasing an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.4%

Ameriprise Financial stock opened at $521.90 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a 50 day moving average of $480.14 and a two-hundred day moving average of $520.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $49.70 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share 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 company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period last year, the firm earned $8.39 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial announced that its board has approved a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by insiders.

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.