Citizens Financial Group Inc RI Has $483,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Citizens Financial Group Inc RI reduced its position in Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,601 shares of the financial services provider’s stock after selling 148 shares during the period. Citizens Financial Group Inc RI’s holdings in Ameriprise Financial were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC bought a new position in Ameriprise Financial in the third quarter valued at approximately $137,568,000. Millennium Management LLC boosted its position in shares of Ameriprise Financial by 85.8% in the 3rd quarter. Millennium Management LLC now owns 437,263 shares of the financial services provider’s stock worth $115,490,000 after purchasing an additional 201,915 shares during the last quarter. Balyasny Asset Management LLC grew its stake in shares of Ameriprise Financial by 48.0% during the third quarter. Balyasny Asset Management LLC now owns 381,984 shares of the financial services provider’s stock worth $100,890,000 after purchasing an additional 123,846 shares during the period. MARSHALL WACE ASIA Ltd grew its position in shares of Ameriprise Financial by 26.1% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 465,724 shares of the financial services provider’s stock worth $123,007,000 after buying an additional 96,338 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 81.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 204,696 shares of the financial services provider’s stock valued at $54,065,000 after acquiring an additional 92,114 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

Shares of AMP stock opened at $259.92 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $236.35 and a 52 week high of $332.37. The company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 9.98 and a beta of 1.50. The company has a 50-day simple moving average of $285.24 and a 200 day simple moving average of $296.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.94 and a current ratio of 0.94.

Ameriprise Financial (NYSE:AMPGet Rating) last posted its earnings results on Monday, April 25th. The financial services provider reported $5.98 EPS for the quarter, beating the consensus estimate of $5.93 by $0.05. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.72 billion. Ameriprise Financial had a return on equity of 50.02% and a net margin of 22.45%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.43 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 25.49 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 26th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, May 9th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.13. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.20%.

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,711 shares of the stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $312.01, for a total transaction of $2,717,919.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 56,622 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $314.16, for a total transaction of $17,788,367.52. The disclosure for this sale can be found here. In the last three months, insiders sold 67,377 shares of company stock valued at $21,148,716. 1.00% of the stock is currently owned by company insiders.

A number of brokerages recently issued reports on AMP. Piper Sandler cut shares of Ameriprise Financial from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $325.00 to $310.00 in a report on Wednesday, April 6th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a report on Monday, April 4th. William Blair reaffirmed an “outperform” rating on shares of Ameriprise Financial in a research note on Tuesday, April 26th. StockNews.com began coverage on Ameriprise Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, UBS Group dropped their price target on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Buy” and a consensus target price of $338.09.

About Ameriprise Financial (Get Rating)

Ameriprise Financial, Inc, through 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.

See Also

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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