Vise Technologies Inc. Has $2.31 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Vise Technologies Inc. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 158.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,342 shares of the financial services provider's stock after buying an additional 2,662 shares during the period. Vise Technologies Inc.'s holdings in Ameriprise Financial were worth $2,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in Ameriprise Financial by 18.8% during the 4th quarter. Atomi Financial Group Inc. now owns 789 shares of the financial services provider's stock valued at $420,000 after purchasing an additional 125 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in Ameriprise Financial by 9.2% during the 4th quarter. Simon Quick Advisors LLC now owns 510 shares of the financial services provider's stock valued at $272,000 after purchasing an additional 43 shares in the last quarter. Dakota Wealth Management boosted its stake in Ameriprise Financial by 2.7% during the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 21 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Ameriprise Financial by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,304 shares of the financial services provider's stock valued at $14,005,000 after purchasing an additional 1,061 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 2.6%

Shares of NYSE AMP traded up $12.89 during mid-day trading on Tuesday, reaching $517.35. The company had a trading volume of 392,819 shares, compared to its average volume of 493,977. The stock has a fifty day moving average of $482.33 and a two-hundred day moving average of $519.38. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $8.39 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. 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 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James 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. Royal Bank of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Ameriprise Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $517.13.

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.