Unigestion Holding SA Purchases 5,193 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

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

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley raised 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 report on Tuesday, March 4th. Raymond James raised 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. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

AMP stock traded up $10.56 on Friday, reaching $518.95. 326,071 shares of the company were exchanged, compared to its average volume of 494,599. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock's fifty day moving average price is $485.10 and its 200 day moving average price is $516.83. The firm has a market capitalization of $49.42 billion, a PE ratio of 15.70, a PEG ratio of 1.15 and a beta of 1.24. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

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

Ameriprise Financial announced that its board has authorized a stock repurchase 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 purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's 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.