Mattson Financial Services LLC Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mattson Financial Services LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,910 shares of the financial services provider's stock after selling 912 shares during the period. Mattson Financial Services LLC's holdings in Ameriprise Financial were worth $1,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday. Morgan Stanley raised 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. Royal Bank of Canada raised 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. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Raymond James upgraded 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 report on Monday, April 7th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $1.30 during midday trading on Friday, hitting $508.62. The stock had a trading volume of 932,956 shares, compared to its average volume of 493,604. The company has a market capitalization of $48.43 billion, a PE ratio of 15.38, a P/E/G ratio of 1.15 and a beta of 1.28. The stock has a 50 day simple moving average of $483.11 and a 200-day simple moving average of $517.98. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. 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 (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the business posted $8.39 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has approved a stock buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

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 dividend of $1.60 per share. 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 yield of 1.26%. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

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.