Advisor Resource Council acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 824 shares of the financial services provider's stock, valued at approximately $399,000.
Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the fourth quarter worth $26,000. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at about $28,000. Finally, Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial in the fourth quarter worth about $31,000. 83.95% of the stock is currently owned by institutional investors.
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock traded up $2.30 during trading on Tuesday, reaching $521.26. The company's stock had a trading volume of 535,347 shares, compared to its average volume of 497,189. The stock has a 50-day moving average price of $497.68 and a two-hundred day moving average price of $511.76. The stock has a market capitalization of $49.63 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. 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 announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. Ameriprise Financial's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $8.39 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.
Ameriprise Financial declared that its board has initiated a stock repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Royal Bank Of Canada raised their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley increased their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. One equities 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 stock. According to data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $517.13.
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Ameriprise Financial Company Profile
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Free Report)
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.
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