Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,382 shares of the financial services provider’s stock after purchasing an additional 143 shares during the period. Tectonic Advisors LLC’s holdings in Ameriprise Financial were worth $1,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after acquiring an additional 20 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 21 shares during the last quarter. Horizon Investments LLC grew its stake in shares of Ameriprise Financial by 1.4% in the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock valued at $851,000 after purchasing an additional 22 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock valued at $852,000 after buying an additional 22 shares in the last quarter. Finally, Apella Capital LLC boosted its stake in shares of Ameriprise Financial by 4.1% in the first quarter. Apella Capital LLC now owns 581 shares of the financial services provider’s stock valued at $275,000 after buying an additional 23 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price 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. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada upped their price objective on Ameriprise Financial from $565.00 to $595.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $462.00 to $530.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $524.71.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $539.34 on Tuesday. The firm has a market capitalization of $51.36 billion, a P/E ratio of 18.33, a PEG ratio of 1.16 and a beta of 1.23. The stock has a fifty day moving average price of $517.39 and a 200 day moving average price of $511.18. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.39 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.19%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is 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.