Sigma Planning Corp boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 277.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,707 shares of the financial services provider's stock after buying an additional 1,255 shares during the period. Sigma Planning Corp's holdings in Ameriprise Financial were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Ameriprise Financial by 6.9% in the fourth 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. Proficio Capital Partners LLC raised its holdings in Ameriprise Financial by 49.8% during the fourth quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider's stock worth $372,000 after purchasing an additional 232 shares during the last quarter. Horizon Investments LLC grew its holdings in Ameriprise Financial by 1.4% during the 4th 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 last quarter. Evoke Wealth LLC lifted its stake in shares of Ameriprise Financial by 26.0% during the 4th quarter. Evoke Wealth LLC now owns 552 shares of the financial services provider's stock worth $294,000 after purchasing an additional 114 shares during the period. Finally, Brooklyn FI LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $1,195,000. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Stock Performance
Shares of NYSE AMP opened at $539.82 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The company has a market cap of $51.40 billion, a PE ratio of 18.34, a PEG ratio of 1.12 and a beta of 1.23. The firm's 50-day moving average price is $520.25 and its 200-day moving average price is $511.42. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.
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 (EPS) for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the firm earned $8.39 earnings per share. The business'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 declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
Ameriprise Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.
Analyst Ratings Changes
A number of brokerages have commented on AMP. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $524.71.
Read Our Latest Stock Report on AMP
Ameriprise Financial Company Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ameriprise Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameriprise Financial wasn't on the list.
While Ameriprise Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.