Dividend Assets Capital LLC Has $14.65 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Dividend Assets Capital LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.2% during the first 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 period. Ameriprise Financial makes up approximately 2.8% of Dividend Assets Capital LLC's portfolio, making the stock its 7th biggest holding. Dividend Assets Capital LLC's holdings in Ameriprise Financial were worth $14,645,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its holdings in shares of Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after purchasing an additional 327 shares during the period. SBI Securities Co. Ltd. acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $43,000. Van ECK Associates Corp grew its stake in Ameriprise Financial by 35.6% during the fourth quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock worth $12,000,000 after buying an additional 5,919 shares during the period. Fisher Asset Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $214,000. Finally, Certuity LLC increased its position in shares of Ameriprise Financial by 58.1% in the fourth quarter. Certuity LLC now owns 2,875 shares of the financial services provider's stock worth $1,531,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.2%

Shares of NYSE:AMP traded up $1.13 during trading on Wednesday, hitting $517.80. The company's stock had a trading volume of 69,034 shares, compared to its average volume of 493,787. The company has a market capitalization of $49.31 billion, a PE ratio of 15.67, a PEG ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock's 50-day moving average price is $486.79 and its two-hundred day moving average price is $515.76.

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 (EPS) for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the business earned $8.39 EPS. Ameriprise Financial's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has authorized a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.24%. 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. Ameriprise Financial's dividend payout ratio is 21.75%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Wall Street Zen raised 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $517.13.

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.