1,029 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,029 shares of the financial services provider's stock, valued at approximately $498,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial during the fourth quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Finally, Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $524.22 on Thursday. The company's 50-day moving average is $499.80 and its 200 day moving average is $511.91. The company has a market capitalization of $49.92 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data 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. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period last year, the firm posted $8.39 earnings per share. Ameriprise Financial's revenue was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is 21.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley lifted 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 Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $517.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.