Toronto Dominion Bank Has $29.70 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Toronto Dominion Bank raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 51.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,778 shares of the financial services provider's stock after purchasing an additional 19,048 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Ameriprise Financial worth $29,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AMP. Norges Bank acquired a new stake in Ameriprise Financial in the fourth quarter worth about $689,272,000. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after acquiring an additional 371,306 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after acquiring an additional 338,298 shares during the period. Finally, Northern Trust Corp raised its holdings in Ameriprise Financial by 19.8% during 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 in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen lowered Ameriprise Financial from a "hold" rating to a "sell" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Price Performance

Shares of AMP traded down $3.29 during mid-day trading on Thursday, hitting $507.83. 487,031 shares of the company traded hands, compared to its average volume of 493,300. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $48.36 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.15 and a beta of 1.28. The business has a 50-day moving average of $481.60 and a 200 day moving average of $520.29. 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 issued 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. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the firm earned $8.39 EPS. The company's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is presently 21.75%.

Ameriprise Financial declared that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is 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.