Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Brighton Jones LLC

Brighton Jones LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 102.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,575 shares of the financial services provider's stock after buying an additional 798 shares during the quarter. Brighton Jones LLC's holdings in Ameriprise Financial were worth $762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $26,000. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter valued at about $28,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMP shares. Royal Bank Of Canada boosted their price objective 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 note on Friday, May 30th. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial upgraded 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given 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 a consensus target price of $517.13.

Ameriprise Financial Trading Up 0.6%

NYSE:AMP traded up $2.95 during trading hours on Friday, reaching $509.38. 284,291 shares of the company were exchanged, compared to its average volume of 495,443. The firm has a market cap of $48.50 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.89 and a beta of 1.24. The stock has a 50 day simple moving average of $495.97 and a 200 day simple moving average of $513.14. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company posted $8.39 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its Board of Directors has initiated a share 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 buy up to 9.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are 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.