CX Institutional Has $4.61 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

CX Institutional increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,311.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,514 shares of the financial services provider's stock after purchasing an additional 8,840 shares during the quarter. CX Institutional's holdings in Ameriprise Financial were worth $4,606,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the period. Golden State Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $38,000. Stephens Inc. AR boosted its holdings in Ameriprise Financial by 2.1% in the 4th quarter. Stephens Inc. AR now owns 2,189 shares of the financial services provider's stock valued at $1,165,000 after purchasing an additional 44 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Ameriprise Financial by 1.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,953 shares of the financial services provider's stock valued at $1,572,000 after acquiring an additional 29 shares during the period. Finally, Savant Capital LLC lifted its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. Savant Capital LLC now owns 6,717 shares of the financial services provider's stock valued at $3,576,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Trading Down 2.8%

NYSE AMP traded down $14.28 on Friday, hitting $501.27. 393,337 shares of the stock were exchanged, compared to its average volume of 496,442. The company's 50-day moving average price is $491.95 and its two-hundred day moving average price is $514.48. The company has a market capitalization of $47.73 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. 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 released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm earned $8.39 EPS. Ameriprise Financial's revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

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

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.