Oppenheimer Asset Management Inc. Has $2.67 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Oppenheimer Asset Management Inc. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,522 shares of the financial services provider's stock after purchasing an additional 731 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Ameriprise Financial were worth $2,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMP. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $31,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

NYSE AMP traded up $3.02 during trading on Friday, reaching $528.50. 654,277 shares of the company traded hands, compared to its average volume of 498,801. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.96 and a beta of 1.24. The stock's 50 day moving average price is $501.01 and its two-hundred day moving average price is $511.71. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the company earned $8.39 EPS. Ameriprise Financial's revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has authorized a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's payout ratio is currently 21.75%.

Analysts Set New Price Targets

Several research firms recently commented on AMP. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.