Assenagon Asset Management S.A. Has $10.13 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Assenagon Asset Management S.A. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 90.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,922 shares of the financial services provider's stock after selling 198,258 shares during the period. Assenagon Asset Management S.A.'s holdings in Ameriprise Financial were worth $10,129,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Finally, Sunbeam Capital Management LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $31,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE:AMP traded down $14.28 on Friday, hitting $501.27. The company had a trading volume of 393,337 shares, compared to its average volume of 495,452. The stock has a market capitalization of $47.73 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.15 and a beta of 1.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $491.95 and a two-hundred day moving average of $514.88. 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 announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same period in the prior year, the company posted $8.39 EPS. The company's revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial declared that its Board of Directors has authorized a share repurchase 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 buy up to 9.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Raymond James raised 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 report on Monday, April 7th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $517.13.

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.