Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Van Strum & Towne Inc.

Van Strum & Towne Inc. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 72.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,790 shares of the financial services provider's stock after buying an additional 750 shares during the quarter. Van Strum & Towne Inc.'s holdings in Ameriprise Financial were worth $867,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management raised its position in Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after purchasing an additional 683 shares during the period. Exchange Traded Concepts LLC raised its position in Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after purchasing an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after purchasing an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Ameriprise Financial by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock worth $2,864,000 after purchasing an additional 420 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 4.1%

Shares of NYSE AMP traded down $21.82 during midday trading on Thursday, reaching $515.15. 319,012 shares of the company's stock traded hands, compared to its average volume of 514,463. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The stock's 50 day simple moving average is $522.32 and its 200-day simple moving average is $511.58. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $49.05 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. During the same quarter in the prior year, the firm earned $8.72 EPS. The company's revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share buyback plan 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 purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio is presently 21.75%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. Keefe, Bruyette & Woods increased their price objective 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. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler upped their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $524.71.

Ameriprise Financial 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.