Arjuna Capital Lowers Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Arjuna Capital lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,570 shares of the financial services provider's stock after selling 1,310 shares during the period. Ameriprise Financial comprises about 1.6% of Arjuna Capital's investment portfolio, making the stock its 13th biggest position. Arjuna Capital's holdings in Ameriprise Financial were worth $5,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Ameriprise Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after purchasing an additional 683 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Ameriprise Financial by 488.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 806 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ameriprise Financial by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock valued at $12,055,000 after purchasing an additional 1,433 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after purchasing an additional 420 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on AMP. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus target price of $526.43.

Ameriprise Financial Trading Down 1.2%

Shares of AMP traded down $6.34 during trading hours on Friday, reaching $536.17. 358,381 shares of the company traded hands, compared to its average volume of 497,559. The company's fifty day moving average price is $516.21 and its two-hundred day moving average price is $511.37. The company has a market capitalization of $51.06 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. 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, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its 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. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.39 EPS. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. Ameriprise Financial's payout ratio is presently 21.75%.

About Ameriprise Financial

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.