Kintegral Advisory LLC Sells 718 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kintegral Advisory LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,463 shares of the financial services provider's stock after selling 718 shares during the quarter. Kintegral Advisory LLC's holdings in Ameriprise Financial were worth $708,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its position in shares of Ameriprise Financial by 8.4% in the first quarter. IFM Investors Pty Ltd now owns 21,304 shares of the financial services provider's stock worth $10,009,000 after buying an additional 1,657 shares during the period. 44 Wealth Management LLC raised its holdings in Ameriprise Financial by 10.2% during the first quarter. 44 Wealth Management LLC now owns 2,865 shares of the financial services provider's stock valued at $1,387,000 after buying an additional 265 shares in the last quarter. Calamos Advisors LLC increased its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Calamos Advisors LLC now owns 49,684 shares of the financial services provider's stock worth $24,053,000 after purchasing an additional 553 shares during the period. North Capital Inc. acquired a new stake in Ameriprise Financial during the first quarter worth about $174,000. Finally, D.A. Davidson & CO. grew its position in Ameriprise Financial by 6.5% during the first quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider's stock worth $2,140,000 after buying an additional 268 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report 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 price objective on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of "Hold" and an average price target of $517.86.

Ameriprise Financial Price Performance

Shares of AMP traded down $0.09 on Tuesday, hitting $536.33. The company's stock had a trading volume of 385,627 shares, compared to its average volume of 496,720. The company has a market capitalization of $51.07 billion, a PE ratio of 18.22, a PEG ratio of 2.01 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a 50 day moving average price of $512.36 and a 200 day moving average price of $511.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the business earned $8.39 EPS. Ameriprise Financial's revenue was up 3.6% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.19%. 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. Ameriprise Financial's payout ratio is 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in 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 board 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.