GAMMA Investing LLC Has $1.02 Billion Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

GAMMA Investing LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 49,248.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,114,108 shares of the financial services provider's stock after purchasing an additional 2,109,824 shares during the period. GAMMA Investing LLC owned about 2.20% of Ameriprise Financial worth $1,023,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after buying an additional 20 shares during the period. Abel Hall LLC increased its position in shares of Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 21 shares during the last quarter. Forum Financial Management LP increased its position in shares of Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after purchasing an additional 21 shares during the last quarter. Finally, Howard Capital Management Inc. increased its position in shares of Ameriprise Financial by 3.4% in the 4th quarter. Howard Capital Management Inc. now owns 660 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 22 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $2.96 during trading hours on Tuesday, hitting $513.09. 92,992 shares of the stock were exchanged, compared to its average volume of 492,054. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company's 50 day moving average is $483.21 and its 200 day moving average is $517.61. The firm has a market capitalization of $48.86 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data 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. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the company posted $8.39 earnings per share. Ameriprise Financial's quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.25%. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMP shares. Royal Bank of Canada upped their target price 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. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $517.13.

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.