NBC Securities Inc. Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

NBC Securities Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 142,200.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,423 shares of the financial services provider's stock after purchasing 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.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $28,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial in the fourth quarter worth $30,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AMP. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley increased their price target 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. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Trading Up 2.1%

Shares of NYSE:AMP traded up $10.56 on Friday, hitting $518.95. 326,071 shares of the company's stock were exchanged, compared to its average volume of 493,754. The stock 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. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business's 50 day simple moving average is $484.49 and its two-hundred day simple moving average is $517.13.

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 for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during 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 firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $8.39 EPS. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial's payout ratio is presently 21.75%.

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.