Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,251 shares of the financial services provider's stock after selling 4,588 shares during the quarter. Ameriprise Financial makes up approximately 2.8% of Dividend Assets Capital LLC's holdings, making the stock its 7th biggest holding. Dividend Assets Capital LLC's holdings in Ameriprise Financial were worth $14,645,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

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

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $1.53 during trading on Tuesday, hitting $516.56. The stock had a trading volume of 455,676 shares, compared to its average volume of 494,863. The business has a fifty day moving average of $485.57 and a two-hundred day moving average of $515.75. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market cap of $49.19 billion, a P/E ratio of 15.62, 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 issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period in the previous year, the business earned $8.39 earnings per share. Ameriprise Financial's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has initiated a stock buyback 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 reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $1.60 per share. 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. This represents a $6.40 annualized dividend and a yield of 1.24%. Ameriprise Financial's dividend payout ratio is currently 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.