Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by NBC Securities Inc.

NBC Securities Inc. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 142,200.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,423 shares of the financial services provider's stock after buying an additional 1,422 shares during the quarter. NBC Securities Inc.'s holdings in Ameriprise Financial were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its position in Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of 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 in the last quarter. Forum Financial Management LP lifted its stake in shares of Ameriprise Financial by 1.4% in 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. Howard Capital Management Inc. boosted its holdings in Ameriprise Financial by 3.4% during the fourth quarter. Howard Capital Management Inc. now owns 660 shares of the financial services provider's stock worth $351,000 after buying an additional 22 shares in the last quarter. Finally, Horizon Investments LLC grew its position in Ameriprise Financial by 1.4% during the fourth quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider's stock valued at $851,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Keefe, Bruyette & Woods lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. 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 report on Monday, April 7th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank of Canada lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $10.56 during trading on Friday, hitting $518.95. The company had a trading volume of 326,071 shares, compared to its average volume of 495,393. The stock has a fifty day simple moving average of $485.10 and a two-hundred day simple moving average of $516.13. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth 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 (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, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the business earned $8.39 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $1.60 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its board has authorized a share repurchase program on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.