Xponance Inc. Has $10.69 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Xponance Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,082 shares of the financial services provider's stock after selling 3,977 shares during the quarter. Xponance Inc.'s holdings in Ameriprise Financial were worth $10,690,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after acquiring an additional 38,141 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after acquiring an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after acquiring an additional 23,655 shares during the period. Finally, Norges Bank acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at $689,272,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 1.2%

Shares of AMP traded down $6.34 during trading hours on Friday, reaching $536.17. The company's stock had a trading volume of 358,381 shares, compared to its average volume of 496,961. The firm has a market cap of $51.05 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.17 and a beta of 1.23. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. 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 company has a 50 day moving average of $516.21 and a two-hundred day moving average of $511.56.

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 for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.39 EPS. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase 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 reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is 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 issued a $1.60 dividend. 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 1.19%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMP. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Raymond James Financial upgraded 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 note on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $526.43.

Ameriprise Financial Company 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.