Twin Capital Management Inc. Has $1.52 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Twin Capital Management Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 165.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the financial services provider's stock after buying an additional 1,953 shares during the period. Twin Capital Management Inc.'s holdings in Ameriprise Financial were worth $1,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the fourth quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at $31,000. Opal Wealth Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at $36,000. Quarry LP increased its stake in Ameriprise Financial by 148.6% in the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 52 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

AMP has been the subject of several recent research reports. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. 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. Finally, Raymond James Financial 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 research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $524.71.

Ameriprise Financial Trading Up 0.9%

Shares of NYSE AMP opened at $544.46 on Monday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market cap of $51.84 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. The firm has a 50-day moving average of $521.30 and a 200 day moving average of $511.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

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, topping the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $8.39 earnings per share. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This is a positive change 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 1.18%. Ameriprise Financial's payout ratio is currently 21.75%.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are usually 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.

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