Asset Management One Co. Ltd. Has $20.60 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Asset Management One Co. Ltd. increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 42,559 shares of the financial services provider's stock after purchasing an additional 2,513 shares during the period. Asset Management One Co. Ltd.'s holdings in Ameriprise Financial were worth $20,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMP shares. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research note on Monday, April 7th. Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. 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. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Up 0.6%

AMP stock opened at $524.22 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a fifty day simple moving average of $499.80 and a 200 day simple moving average of $511.91. The firm has a market cap of $49.92 billion, a PE ratio of 17.81, a PEG ratio of 1.95 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data 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 17.14% and a return on equity of 68.93%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the business earned $8.39 EPS. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed 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 1.22%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is presently 21.75%.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is 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.

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