Ameriprise Financial, Inc. (NYSE:AMP) Stake Boosted by Unigestion Holding SA

Unigestion Holding SA raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 151.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,617 shares of the financial services provider's stock after purchasing an additional 5,193 shares during the period. Unigestion Holding SA's holdings in Ameriprise Financial were worth $4,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

AMP has been the topic of several recent research reports. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price target 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. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Stock Up 0.0%

Shares of NYSE AMP traded up $0.23 during trading on Thursday, reaching $507.75. 531,213 shares of the stock were exchanged, compared to its average volume of 494,404. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. The business's 50-day moving average price is $484.03 and its 200 day moving average price is $517.52. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.39 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

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

Ameriprise Financial Increases Dividend

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

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.