Kolinsky Wealth Management LLC Has $818,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Kolinsky Wealth Management LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,536 shares of the financial services provider’s stock after purchasing an additional 45 shares during the period. Kolinsky Wealth Management LLC’s holdings in Ameriprise Financial were worth $818,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ameriprise Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after buying an additional 38,141 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock worth $770,886,000 after purchasing an additional 23,655 shares in the last quarter. Norges Bank acquired a new position in Ameriprise Financial during the 4th quarter worth $689,272,000. Finally, Northern Trust Corp increased its position in Ameriprise Financial by 19.8% in the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after purchasing an additional 209,549 shares during the period. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $518.34 on Wednesday. The firm’s fifty day moving average is $481.07 and its 200-day moving average is $520.35. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market cap of $49.36 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. 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 (NYSE:AMP) last posted its quarterly earnings data 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. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Ameriprise Financial’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 company posted $8.39 earnings per share. Sell-side analysts predict 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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.