Wealth Enhancement Advisory Services LLC Buys 1,433 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Wealth Enhancement Advisory Services LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,902 shares of the financial services provider's stock after acquiring an additional 1,433 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ameriprise Financial were worth $12,055,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after acquiring an additional 327 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Ameriprise Financial in the 4th quarter valued at about $43,000. Fisher Asset Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $214,000. IPG Investment Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $1,353,000. Finally, Proficio Capital Partners LLC lifted its position in Ameriprise Financial by 49.8% in the 4th quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $509.49 on Monday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company's 50 day moving average price is $496.77 and its two-hundred day moving average price is $512.05. 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 has a market cap of $48.51 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.91 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter last year, the firm earned $8.39 EPS. The company's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

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 dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley lifted their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $517.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.