552 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Wolf Group Capital Advisors

Wolf Group Capital Advisors purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 552 shares of the financial services provider's stock, valued at approximately $267,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after buying an additional 327 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $43,000. Fisher Asset Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $214,000. IPG Investment Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $1,353,000. Finally, Proficio Capital Partners LLC lifted its position in shares of Ameriprise Financial by 49.8% during the 4th quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider's stock worth $372,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada boosted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded up $3.06 during trading hours on Friday, hitting $509.49. The stock had a trading volume of 976,393 shares, compared to its average volume of 498,216. 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 market cap of $48.51 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The company has a 50-day moving average of $495.97 and a two-hundred day moving average of $513.14. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

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 for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the company posted $8.39 EPS. The company's revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

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.