DekaBank Deutsche Girozentrale Has $28.44 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

DekaBank Deutsche Girozentrale boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,400 shares of the financial services provider's stock after acquiring an additional 842 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of Ameriprise Financial worth $28,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at about $36,000. Finally, SBI Securities Co. Ltd. bought a new stake in Ameriprise Financial in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

AMP traded down $6.34 during trading on Friday, reaching $536.17. The stock had a trading volume of 358,381 shares, compared to its average volume of 496,961. The stock has a 50 day moving average of $516.21 and a two-hundred day moving average of $511.56. 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 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market capitalization of $51.05 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. 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 earnings per share. Ameriprise Financial's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Analyst Ratings Changes

A number of equities analysts have commented on AMP shares. 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. Royal Bank Of Canada lifted their target price on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research note on Thursday. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $526.43.

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.