Ameriprise Financial, Inc. (NYSE:AMP) Stake Lessened by Raiffeisen Bank International AG

Raiffeisen Bank International AG trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,234 shares of the financial services provider's stock after selling 1,214 shares during the quarter. Raiffeisen Bank International AG's holdings in Ameriprise Financial were worth $3,488,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Ameriprise Financial by 19.1% in the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider's stock worth $866,000 after acquiring an additional 261 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $1,804,000. World Investment Advisors raised its position in shares of Ameriprise Financial by 16.0% during the 4th quarter. World Investment Advisors now owns 1,627 shares of the financial services provider's stock valued at $866,000 after acquiring an additional 225 shares in the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter worth $247,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 3.2%

Shares of Ameriprise Financial stock opened at $501.61 on Monday. 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 $47.76 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock's fifty day moving average is $522.52 and its 200-day moving average is $510.66.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter last year, the business posted $8.72 EPS. Ameriprise Financial's revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted 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. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $534.71.

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.

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