Focus Partners Advisor Solutions LLC Buys 866 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Focus Partners Advisor Solutions LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 112.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,637 shares of the financial services provider’s stock after acquiring an additional 866 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Ameriprise Financial were worth $872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMP. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Atomi Financial Group Inc. increased its stake in shares of Ameriprise Financial by 18.8% in the fourth quarter. Atomi Financial Group Inc. now owns 789 shares of the financial services provider’s stock valued at $420,000 after buying an additional 125 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Ameriprise Financial by 9.2% in the fourth quarter. Simon Quick Advisors LLC now owns 510 shares of the financial services provider’s stock valued at $272,000 after buying an additional 43 shares during the period. Dakota Wealth Management increased its stake in shares of Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after buying an additional 21 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Ameriprise Financial by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 26,304 shares of the financial services provider’s stock valued at $14,005,000 after buying an additional 1,061 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Royal Bank of Canada upped their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley upped their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Wall Street Zen downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $504.70 on Friday. The company has a market capitalization of $48.06 billion, a PE ratio of 15.27, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a 50 day simple moving average of $482.22 and a two-hundred day simple moving average of $520.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $8.39 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

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

About Ameriprise Financial

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.