Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 975.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,961 shares of the financial services provider's stock after buying an additional 7,221 shares during the quarter. SG Americas Securities LLC's holdings in Ameriprise Financial were worth $3,854,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares in the last quarter. Essex Financial Services Inc. increased its stake in shares of Ameriprise Financial by 4.3% in the 4th quarter. Essex Financial Services Inc. now owns 748 shares of the financial services provider's stock worth $398,000 after acquiring an additional 31 shares during the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $236,000. Van ECK Associates Corp increased its position in shares of Ameriprise Financial by 35.6% during the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock worth $12,000,000 after purchasing an additional 5,919 shares during the last quarter. Finally, Avestar Capital LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $347,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods raised 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. Morgan Stanley raised their target price on 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 upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a report on Monday, April 7th. 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. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Stock Down 2.8%

Shares of NYSE AMP traded down $14.28 during midday trading on Friday, hitting $501.27. 393,337 shares of the company's stock were exchanged, compared to its average volume of 495,452. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market cap of $47.73 billion, a PE ratio of 15.16, a P/E/G ratio of 1.15 and a beta of 1.24. The firm's fifty day simple moving average is $491.95 and its 200-day simple moving average is $514.88.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share 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 analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $8.39 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a dividend of $1.60 per share. 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 yield of 1.28%. Ameriprise Financial's payout ratio is 21.75%.

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

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.