Sivia Capital Partners LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

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

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMP shares. 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. Raymond James raised shares of 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. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Performance

AMP stock traded up $0.39 during midday trading on Thursday, hitting $516.04. 350,268 shares of the stock traded hands, compared to its average volume of 495,145. 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 1-year low of $385.74 and a 1-year high of $582.05. The stock's fifty day simple moving average is $488.67 and its 200-day simple moving average is $515.76. The firm has a market cap of $49.14 billion, a P/E ratio of 15.61, a PEG ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (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 business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the firm earned $8.39 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business 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. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

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.