Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lowered by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,036 shares of the financial services provider's stock after selling 8,956 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.05% of Ameriprise Financial worth $26,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $517.44.

Ameriprise Financial Stock Up 0.5 %

Shares of NYSE:AMP traded up $2.22 during midday trading on Monday, reaching $468.16. The company had a trading volume of 457,010 shares, compared to its average volume of 491,046. The stock has a market capitalization of $44.86 billion, a P/E ratio of 14.16, a PEG ratio of 1.15 and a beta of 1.23. The stock's fifty day moving average price is $485.25 and its 200-day moving average price is $522.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the firm earned $8.39 EPS. The company's revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial declared that its board has initiated a share buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by corporate 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.