Foundry Partners LLC Has $20.29 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Foundry Partners LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,911 shares of the financial services provider's stock after selling 2,497 shares during the quarter. Ameriprise Financial makes up 1.1% of Foundry Partners LLC's investment portfolio, making the stock its 25th largest position. Foundry Partners LLC's holdings in Ameriprise Financial were worth $20,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Ameriprise Financial by 49,248.9% in 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 buying an additional 2,109,824 shares during the last quarter. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $689,272,000. JPMorgan Chase & Co. grew its position in shares of 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 worth $2,556,683,000 after buying an additional 516,437 shares during the last quarter. Northern Trust Corp grew its position in shares of Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after buying an additional 209,549 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $100,138,000. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $524.71.

Ameriprise Financial Price Performance

Shares of AMP traded up $4.64 on Friday, reaching $544.46. The stock had a trading volume of 406,234 shares, compared to its average volume of 490,940. The firm has a market capitalization of $51.85 billion, a PE ratio of 18.50, a PEG ratio of 1.16 and a beta of 1.23. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average of $521.30 and a 200 day moving average of $511.36. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

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 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 business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same period last year, the company posted $8.39 EPS. The company's revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is 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.