Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 61.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,402 shares of the financial services provider's stock after acquiring an additional 531 shares during the period. Farther Finance Advisors LLC's holdings in Ameriprise Financial were worth $685,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC increased its position in Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after purchasing an additional 38,141 shares during the period. GAMMA Investing LLC increased its position in Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ameriprise Financial by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock worth $770,886,000 after purchasing an additional 23,655 shares during the period. Finally, Norges Bank acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $689,272,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 2.8%

Shares of Ameriprise Financial stock traded down $14.28 during trading hours on Friday, reaching $501.27. 393,337 shares of the company's stock were exchanged, compared to its average volume of 496,442. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The firm has a market capitalization of $47.73 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. The company has a fifty day moving average of $491.95 and a 200-day moving average of $514.48. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

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. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $8.39 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 given a $1.60 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its Board of Directors has authorized 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 purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target 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.