Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 333,109 shares of the financial services provider's stock after selling 18,986 shares during the quarter. Ameriprise Financial accounts for approximately 5.8% of Maj Invest Holding A S's holdings, making the stock its 6th biggest holding. Maj Invest Holding A S owned approximately 0.35% of Ameriprise Financial worth $161,260,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at about $28,000. Sunbeam Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $31,000. Finally, Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $3.13 during trading hours on Monday, hitting $540.17. 89,586 shares of the company were exchanged, compared to its average volume of 523,845. 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, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market capitalization of $51.43 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.03 and a beta of 1.23. The company's 50 day moving average price is $509.70 and its 200-day moving average price is $511.13.

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 (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $8.39 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $1.60 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.18%. Ameriprise Financial's payout ratio is 21.75%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMP shares. Royal Bank Of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $517.86.

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.