Universal Beteiligungs und Servicegesellschaft mbH Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,007 shares of the financial services provider's stock after buying an additional 5,930 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.20% of Ameriprise Financial worth $93,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $36,000. Quarry LP increased its holdings in Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after buying an additional 52 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. Raymond James Financial upgraded 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 report on Monday, April 7th. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $524.71.

Ameriprise Financial Price Performance

NYSE:AMP traded down $18.96 during mid-day trading on Thursday, hitting $518.00. 574,461 shares of the stock traded hands, compared to its average volume of 515,819. The business's 50-day moving average price is $522.32 and its 200 day moving average price is $511.58. The company has a market cap of $49.32 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.72 earnings per share. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.24%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually an indication 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.