Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,658 shares of the financial services provider's stock after purchasing an additional 910 shares during the quarter. Wealthfront Advisers LLC's holdings in Ameriprise Financial were worth $6,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. HighPoint Advisor Group LLC increased its stake in shares of Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after acquiring an additional 20 shares during the period. Forum Financial Management LP increased its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after acquiring an additional 21 shares during the period. Horizon Investments LLC increased its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider's stock worth $851,000 after acquiring an additional 22 shares during the period. Ritholtz Wealth Management boosted its holdings in 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 buying an additional 22 shares in the last quarter. Finally, Apella Capital LLC boosted its holdings in 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 buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $4.64 during midday trading on Friday, hitting $544.46. The company's stock had a trading volume of 406,234 shares, compared to its average volume of 492,316. The business's 50 day simple moving average is $520.25 and its 200 day simple moving average is $511.42. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $51.84 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $4.35 billion for 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 for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $8.39 earnings per share. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign 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. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMP shares. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Finally, Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus price target of $524.71.

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.