Wedge Capital Management L L P NC Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Wedge Capital Management L L P NC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 68,610 shares of the financial services provider's stock after selling 1,772 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Ameriprise Financial worth $33,215,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on AMP shares. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. 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.com, the company has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Down 0.2%

NYSE:AMP traded down $1.05 during midday trading on Wednesday, reaching $515.63. The company had a trading volume of 335,773 shares, compared to its average volume of 494,809. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The firm has a market capitalization of $49.10 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.15 and a beta of 1.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock's fifty day simple moving average is $486.79 and its 200-day simple moving average is $515.76.

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 analysts' consensus estimates 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 analyst estimates of $4.45 billion. During the same quarter last year, the company earned $8.39 EPS. Ameriprise Financial's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. 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. Ameriprise Financial's payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback plan 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 repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.