Mediolanum International Funds Ltd Has $17.71 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Mediolanum International Funds Ltd has increased its holdings in Ameriprise Financial by 1.5% in the first quarter, now owning 36,716 shares valued at approximately $17.71 million.
• Ameriprise Financial recently reported quarterly earnings of $9.11 EPS, exceeding analysts' expectations, with a year-over-year revenue increase of 2.2%.
• The company approved a stock repurchase program allowing it to buy back $4.50 billion in shares, indicating the board believes the stock is undervalued.

Mediolanum International Funds Ltd increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,716 shares of the financial services provider's stock after purchasing an additional 553 shares during the period. Mediolanum International Funds Ltd's holdings in Ameriprise Financial were worth $17,705,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the last quarter. Geode Capital Management LLC boosted its position in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after purchasing an additional 38,141 shares during the period. GAMMA Investing LLC grew its holdings in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ameriprise Financial by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after purchasing an additional 23,655 shares during the period. Finally, Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $689,272,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.8%

Shares of AMP opened at $521.03 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62. The company has a 50-day simple moving average of $522.24 and a 200-day simple moving average of $511.44. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market capitalization of $49.61 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.11 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The firm had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the prior year, the firm posted $8.72 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial's payout ratio is 21.75%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMP. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday. Royal Bank Of Canada raised their price target on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday. Finally, Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Two analysts have 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $533.86.

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.

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