Sunbeam Capital Management LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 499 shares of the financial services provider's stock, valued at approximately $266,000.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

AMP traded down $2.14 on Friday, reaching $507.78. 139,941 shares of the stock were exchanged, compared to its average volume of 492,362. The company's 50-day moving average price is $483.17 and its 200 day moving average price is $518.93. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $48.35 billion, a PE ratio of 15.36, a PEG ratio of 1.15 and a beta of 1.28.

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. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.39 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.26%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

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