Zhang Financial LLC Has $2.14 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Zhang Financial LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,416 shares of the financial services provider's stock after acquiring an additional 954 shares during the period. Zhang Financial LLC's holdings in Ameriprise Financial were worth $2,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. JPMorgan Chase & Co. increased its position in 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 worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after purchasing an additional 38,141 shares during the period. GAMMA Investing LLC raised its position 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 buying an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 23,655 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $689,272,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMP. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods raised their target price 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 target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Price Performance

Ameriprise Financial stock traded down $14.28 during mid-day trading on Friday, hitting $501.27. 393,337 shares of the company were exchanged, compared to its average volume of 495,452. The company has a market capitalization of $47.73 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. The business has a fifty day moving average of $491.95 and a 200 day moving average of $514.88. 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 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders 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 1.28%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

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.