Leeward Investments LLC MA Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Leeward Investments LLC MA lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,174 shares of the financial services provider's stock after selling 599 shares during the period. Leeward Investments LLC MA's holdings in Ameriprise Financial were worth $8,314,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its holdings in 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 increased its holdings 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 valued at $1,419,000 after purchasing an additional 20 shares during the period. Forum Financial Management LP increased its holdings in Ameriprise Financial by 1.4% during 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 period. Horizon Investments LLC increased its holdings in Ameriprise Financial by 1.4% during the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider's stock valued at $851,000 after purchasing an additional 22 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in shares of Ameriprise Financial by 1.3% during the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMP. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target of $517.86.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $0.09 during trading on Tuesday, hitting $536.33. 385,627 shares of the company's stock traded hands, compared to its average volume of 496,720. 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 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market capitalization of $51.07 billion, a P/E ratio of 18.22, a PEG ratio of 2.01 and a beta of 1.23. The business has a 50-day simple moving average of $512.36 and a 200-day simple moving average of $511.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating 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 company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period last year, the firm posted $8.39 earnings per share. Ameriprise Financial's revenue was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given 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 annualized dividend and a dividend yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a stock repurchase program 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 repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Ameriprise Financial 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.