IFM Investors Pty Ltd Has $10.01 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

IFM Investors Pty Ltd lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,304 shares of the financial services provider's stock after acquiring an additional 1,657 shares during the quarter. IFM Investors Pty Ltd's holdings in Ameriprise Financial were worth $10,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AMP. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $28,000. Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $31,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter worth about $36,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 0.0%

NYSE AMP traded down $0.09 during trading hours on Tuesday, hitting $536.33. 385,627 shares of the company's stock were exchanged, compared to its average volume of 496,720. The stock has a 50-day simple moving average of $512.36 and a 200 day simple moving average of $511.33. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market cap of $51.07 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.01 and a beta of 1.23. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter last year, the firm posted $8.39 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a share buyback 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 buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign 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. This represents a $6.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMP shares. Royal Bank Of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods raised their target price 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. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James Financial raised 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. Finally, Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $517.86.

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.