Financial Counselors Inc. Sells 15,259 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Counselors Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,141 shares of the financial services provider's stock after selling 15,259 shares during the quarter. Financial Counselors Inc. owned about 0.11% of Ameriprise Financial worth $51,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $214,000. Jones Financial Companies Lllp increased its stake in Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after acquiring an additional 327 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $43,000. Finally, Assetmark Inc. boosted its position in shares of Ameriprise Financial by 2.3% during the 4th quarter. Assetmark Inc. now owns 1,766 shares of the financial services provider's stock valued at $940,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.1%

NYSE AMP opened at $543.06 on Monday. 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 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market capitalization of $51.71 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.03 and a beta of 1.23. The company has a fifty day moving average of $509.70 and a two-hundred day moving average of $511.13.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its 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 firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business's revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $8.39 EPS. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has approved a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.18%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Raymond James Financial upgraded 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. Finally, Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $517.86.

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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