Invesco LLC Sells 606 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Invesco LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 53.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 530 shares of the financial services provider's stock after selling 606 shares during the period. Invesco LLC's holdings in Ameriprise Financial were worth $257,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMP. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial during the 4th quarter worth about $28,000. Finally, Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $31,000. Institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMP. Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. 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's stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Trading Up 0.6%

NYSE:AMP traded up $2.88 on Wednesday, reaching $524.22. The company's stock had a trading volume of 356,964 shares, compared to its average volume of 496,630. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The business's 50-day moving average price is $498.58 and its two-hundred day moving average price is $511.82. The firm has a market cap of $49.92 billion, a PE ratio of 17.81, a PEG ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

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 (EPS) for the quarter, beating the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.39 EPS. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a yield of 1.22%. Ameriprise Financial's dividend payout ratio is presently 21.75%.

Ameriprise Financial announced that its board has initiated a stock buyback plan 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 reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

About Ameriprise Financial

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.