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Sivia Capital Partners LLC Makes New $248,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial logo with Finance background

Sivia Capital Partners LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 512 shares of the financial services provider's stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Up 2.1%

NYSE AMP opened at $518.95 on Monday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a 50 day moving average of $485.10 and a two-hundred day moving average of $516.13. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $49.42 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the firm posted $8.39 earnings per share. The company's revenue was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have commented on AMP shares. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $517.13.

Get Our Latest Report on Ameriprise Financial

Ameriprise Financial 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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.

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