Ramirez Asset Management Inc. Has $1.32 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Ramirez Asset Management Inc. reduced its holdings in Ameriprise Financial by 35.3% during the first quarter, owning 2,717 shares valued at approximately $1.3 million.
• The company reported an EPS of $9.11 for the last quarter, surpassing analysts' expectations of $9.00, with a revenue increase of 2.2% year-over-year.
• Ameriprise Financial declared a quarterly dividend of $1.60 per share, resulting in an annualized dividend yield of 1.24%, with a low payout ratio of 19.91%.

Ramirez Asset Management Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 35.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,717 shares of the financial services provider's stock after selling 1,480 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Ameriprise Financial were worth $1,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $36,000. Quarry LP grew its stake in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after buying an additional 52 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Ameriprise Financial by 68.7% in the 1st quarter. Sound Income Strategies LLC now owns 113 shares of the financial services provider's stock valued at $55,000 after buying an additional 46 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP traded down $13.94 on Friday, hitting $504.25. The company had a trading volume of 246,310 shares, compared to its average volume of 514,970. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.11 and a beta of 1.23. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $522.58 and a two-hundred day moving average of $511.26. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

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

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 repurchase up to 9.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target 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. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Piper Sandler increased their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and an average price target of $534.71.

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.