Lmcg Investments LLC Has $1.56 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lmcg Investments LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 28.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,214 shares of the financial services provider's stock after selling 1,268 shares during the period. Lmcg Investments LLC's holdings in Ameriprise Financial were worth $1,556,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after buying an additional 358,699 shares during the period. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at approximately $208,000. Stratos Wealth Partners LTD. boosted its position in Ameriprise Financial by 15.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,419 shares of the financial services provider's stock valued at $756,000 after purchasing an additional 191 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its stake in Ameriprise Financial by 120.0% in the fourth quarter. Y.D. More Investments Ltd now owns 121 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank of Canada lifted 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 increased their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded down $0.86 during mid-day trading on Monday, reaching $517.77. 402,163 shares of the company were exchanged, compared to its average volume of 495,020. The stock has a market capitalization of $49.30 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.15 and a beta of 1.24. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company's 50-day simple moving average is $485.10 and its 200-day simple moving average is $516.13.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 19.70% and a return on equity of 69.35%. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.39 EPS. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share 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. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership 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.