Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 34.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,134 shares of the financial services provider's stock after selling 601 shares during the quarter. Edgestream Partners L.P.'s holdings in Ameriprise Financial were worth $549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudent Man Advisors LLC raised its holdings in shares of Ameriprise Financial by 1.4% during the first quarter. Prudent Man Advisors LLC now owns 2,973 shares of the financial services provider's stock worth $1,439,000 after purchasing an additional 40 shares during the period. CWM LLC grew its position in shares of Ameriprise Financial by 40.6% during the first quarter. CWM LLC now owns 6,353 shares of the financial services provider's stock worth $3,076,000 after acquiring an additional 1,833 shares during the last quarter. Greatmark Investment Partners Inc. grew its position in shares of Ameriprise Financial by 1.6% during the first quarter. Greatmark Investment Partners Inc. now owns 37,848 shares of the financial services provider's stock worth $18,322,000 after acquiring an additional 607 shares during the last quarter. Arizona State Retirement System grew its position in shares of Ameriprise Financial by 1.2% during the first quarter. Arizona State Retirement System now owns 28,471 shares of the financial services provider's stock worth $13,783,000 after acquiring an additional 335 shares during the last quarter. Finally, Genus Capital Management Inc. boosted its position in shares of Ameriprise Financial by 179.8% during the first quarter. Genus Capital Management Inc. now owns 925 shares of the financial services provider's stock worth $448,000 after buying an additional 2,084 shares during the period. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Piper Sandler raised their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $524.71.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $10.20 during trading on Monday, hitting $534.35. The company had a trading volume of 328,821 shares, compared to its average volume of 490,292. The company has a market cap of $50.88 billion, a P/E ratio of 18.16, a PEG ratio of 1.16 and a beta of 1.23. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The business's 50-day moving average is $521.30 and its 200 day moving average is $511.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

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 (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. The company 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 68.93% and a net margin of 17.14%. The firm's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.39 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given 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 1.20%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its board has authorized a stock repurchase program on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.