Robeco Institutional Asset Management B.V. Grows Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 438,596 shares of the financial services provider's stock after purchasing an additional 21,447 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.46% of Ameriprise Financial worth $212,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AMP. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at about $28,000. Finally, Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at about $31,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMP shares. Royal Bank Of Canada raised their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a report on Monday, April 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Up 0.6%

Shares of NYSE:AMP traded up $3.02 during trading on Friday, hitting $528.50. 654,277 shares of the company were exchanged, compared to its average volume of 499,184. The stock has a market capitalization of $50.32 billion, a P/E ratio of 17.96, a PEG ratio of 1.96 and a beta of 1.24. 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 12-month low of $385.74 and a 12-month high of $582.05. The firm's 50 day moving average price is $501.01 and its 200-day moving average price is $511.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.39 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 plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a $1.60 dividend. 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 annualized dividend and a yield of 1.21%. Ameriprise Financial's dividend payout ratio is 21.75%.

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.