MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 2,712 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 59.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,878 shares of the financial services provider's stock after selling 2,712 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Ameriprise Financial were worth $909,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Finally, Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at $31,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

AMP stock traded down $6.17 during midday trading on Tuesday, hitting $506.74. 340,906 shares of the company traded hands, compared to its average volume of 495,539. The business has a 50 day simple moving average of $493.69 and a 200-day simple moving average of $513.65. 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 twelve month low of $385.74 and a twelve month high of $582.05. The stock has a market capitalization of $48.25 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. Ameriprise Financial's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $8.39 earnings per share. As a group, equities 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 declared 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 1.26%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial declared that its board has approved a stock buyback 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 reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Raymond James Financial upgraded 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 report on Monday, April 7th. Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Morgan Stanley lifted their price objective 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. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.