568 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Accredited Investors Inc.

Accredited Investors Inc. bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 568 shares of the financial services provider's stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $36,000. Quarry LP boosted its position in Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares during the period. Finally, Millstone Evans Group LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $524.71.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $0.22 during trading hours on Wednesday, reaching $536.36. 461,989 shares of the company traded hands, compared to its average volume of 489,620. The firm has a 50-day moving average price of $522.32 and a 200 day moving average price of $511.58. The company has a market cap of $51.07 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

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, 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 firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $8.39 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal 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 $1.60 dividend. 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. This represents a $6.40 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its board has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are 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.