State of Alaska Department of Revenue Has $16.57 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

State of Alaska Department of Revenue reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,234 shares of the financial services provider's stock after selling 7,795 shares during the period. State of Alaska Department of Revenue's holdings in Ameriprise Financial were worth $16,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Ameriprise Financial by 3.0% during the fourth quarter. Principal Securities Inc. now owns 4,843 shares of the financial services provider's stock worth $2,579,000 after buying an additional 141 shares during the last quarter. Csenge Advisory Group raised its stake in shares of Ameriprise Financial by 5.2% during the fourth quarter. Csenge Advisory Group now owns 794 shares of the financial services provider's stock worth $423,000 after buying an additional 39 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Ameriprise Financial by 9.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 755 shares of the financial services provider's stock valued at $402,000 after buying an additional 65 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in Ameriprise Financial by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 16,374 shares of the financial services provider's stock valued at $8,970,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on AMP shares. 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 report on Wednesday, May 7th. Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada raised their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Trading Down 0.1%

NYSE:AMP traded down $0.73 on Thursday, reaching $506.01. The company's stock had a trading volume of 541,284 shares, compared to its average volume of 496,154. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The business's 50-day moving average price is $494.99 and its two-hundred day moving average price is $513.55. The firm has a market cap of $48.18 billion, a PE ratio of 17.19, a PEG ratio of 1.89 and a beta of 1.24. 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 issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.45 billion. During the same period in the previous year, the firm earned $8.39 EPS. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal 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 given a dividend of $1.60 per share. This is an increase 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 dividend yield of 1.26%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has approved a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

About Ameriprise Financial

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.