Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Banco Santander S.A.

Banco Santander S.A. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 130.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,284 shares of the financial services provider's stock after buying an additional 2,428 shares during the period. Banco Santander S.A.'s holdings in Ameriprise Financial were worth $2,074,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Forum Financial Management LP raised its stake in Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after acquiring an additional 21 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after purchasing an additional 21 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 21 shares during the period. Ritholtz Wealth Management raised its stake in shares of Ameriprise Financial by 1.3% during the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after purchasing an additional 22 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in shares of Ameriprise Financial by 4.1% during the first quarter. Apella Capital LLC now owns 581 shares of the financial services provider's stock worth $275,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 3.2%

Shares of AMP opened at $501.61 on Monday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $47.76 billion, a P/E ratio of 15.61, a PEG ratio of 1.07 and a beta of 1.24. The firm's 50-day moving average is $522.52 and its two-hundred day moving average is $510.66.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The company's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.72 EPS. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has approved a stock repurchase 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 repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be given a $1.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $534.71.

Ameriprise Financial Company 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.

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