YANKCOM Partnership Sells 1,297 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

YANKCOM Partnership lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,202 shares of the financial services provider's stock after selling 1,297 shares during the period. Ameriprise Financial makes up 0.9% of YANKCOM Partnership's holdings, making the stock its 29th largest position. YANKCOM Partnership's holdings in Ameriprise Financial were worth $1,550,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of 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 worth $891,000 after acquiring an additional 327 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Ameriprise Financial in the fourth quarter valued at about $43,000. GAMMA Investing LLC grew its stake in Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares in the last quarter. Spire Wealth Management grew its stake in Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after purchasing an additional 683 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 806 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMP shares. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $517.86.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $0.09 during trading on Tuesday, reaching $536.33. The company's stock had a trading volume of 385,627 shares, compared to its average volume of 496,720. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The business's fifty day moving average price is $511.06 and its 200-day moving average price is $511.16. The firm has a market cap of $51.07 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) 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 firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company posted $8.39 earnings per share. The company's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current 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 company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.19%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's 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.