UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,447,863 shares of the financial services provider’s stock after buying an additional 23,655 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ameriprise Financial were worth $770,886,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMP. Waverly Advisors LLC grew its stake in shares of Ameriprise Financial by 29.9% in the 4th quarter. Waverly Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $788,000 after buying an additional 341 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Ameriprise Financial in the fourth quarter worth about $955,000. WBI Investments LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $792,000. Wimmer Associates 1 LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $208,000. Finally, Twinbeech Capital LP purchased a new stake in Ameriprise Financial during the fourth quarter valued at approximately $9,132,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.4%

Shares of AMP opened at $521.90 on Tuesday. The firm has a fifty day moving average price of $480.14 and a 200-day moving average price 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 firm has a market capitalization of $49.70 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $8.39 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial’s payout ratio is presently 21.75%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Raymond James raised shares of 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 note on Monday, April 7th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $517.13.

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.