Yousif Capital Management LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Yousif Capital Management LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,722 shares of the financial services provider's stock after selling 1,444 shares during the period. Yousif Capital Management LLC's holdings in Ameriprise Financial were worth $6,643,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on AMP. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 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. Finally, Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Price Performance

AMP traded down $14.28 during midday trading on Friday, reaching $501.27. 393,337 shares of the company's stock were exchanged, compared to its average volume of 495,452. The stock has a market capitalization of $47.73 billion, a PE ratio of 15.16, a P/E/G ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business's 50-day moving average price is $491.95 and its 200 day moving average price is $514.88.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.39 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.28%. Ameriprise Financial's payout ratio is 21.75%.

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.