Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Boston Common Asset Management LLC

Boston Common Asset Management LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 32.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,615 shares of the financial services provider's stock after purchasing an additional 9,616 shares during the quarter. Boston Common Asset Management LLC's holdings in Ameriprise Financial were worth $19,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AMP. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Ameriprise Financial by 24.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,035 shares of the financial services provider's stock valued at $551,000 after buying an additional 204 shares during the last quarter. Blue Trust Inc. lifted its position in Ameriprise Financial by 35.4% in the fourth quarter. Blue Trust Inc. now owns 2,480 shares of the financial services provider's stock valued at $1,320,000 after buying an additional 649 shares during the last quarter. Finally, Twelve Points Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $218,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. Morgan Stanley upped 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 report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods upped 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 report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Stock Down 0.3%

Shares of AMP traded down $1.30 during mid-day trading on Friday, hitting $508.62. 932,956 shares of the company's stock were exchanged, compared to its average volume of 493,604. The company has a market cap of $48.43 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock's 50-day moving average is $483.11 and its 200-day moving average is $518.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.39 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a stock buyback plan 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 reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Company 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.