Ameriprise Financial, Inc. (NYSE:AMP) Stake Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,235 shares of the financial services provider's stock after buying an additional 931 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ameriprise Financial were worth $13,185,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its position in shares of Ameriprise Financial by 40.0% during 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 period. HighPoint Advisor Group LLC boosted its stake in Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after buying an additional 20 shares in the last quarter. Forum Financial Management LP grew its holdings in Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after acquiring an additional 21 shares during the period. Howard Capital Management Inc. raised its position in Ameriprise Financial by 3.4% in the fourth quarter. Howard Capital Management Inc. now owns 660 shares of the financial services provider's stock worth $351,000 after acquiring an additional 22 shares in the last quarter. Finally, Horizon Investments LLC lifted its holdings in Ameriprise Financial by 1.4% in the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider's stock valued at $851,000 after acquiring 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 Up 0.6%

Shares of AMP traded up $3.06 during mid-day trading on Friday, reaching $509.49. The company's stock had a trading volume of 976,393 shares, compared to its average volume of 498,216. The company has a market cap of $48.51 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The business has a fifty day moving average of $496.77 and a 200 day moving average of $512.76. 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 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $8.39 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a $1.60 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMP. 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 research note on Monday, April 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. 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 note on Tuesday, April 29th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average 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.