Mattson Financial Services LLC Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mattson Financial Services LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,910 shares of the financial services provider’s stock after selling 912 shares during the period. Mattson Financial Services LLC’s holdings in Ameriprise Financial were worth $1,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Ameriprise Financial by 24.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,035 shares of the financial services provider’s stock valued at $551,000 after buying an additional 204 shares in the last quarter. Blue Trust Inc. lifted its stake in Ameriprise Financial by 35.4% in the 4th quarter. Blue Trust Inc. now owns 2,480 shares of the financial services provider’s stock valued at $1,320,000 after buying an additional 649 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in Ameriprise Financial by 10.3% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,399 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $517.35 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company’s 50 day simple moving average is $482.82 and its 200 day simple moving average is $519.37.

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

Ameriprise Financial declared that its Board of Directors has approved a share buyback plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.24%. 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. Ameriprise Financial’s dividend payout ratio (DPR) is currently 21.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMP shares. Wall Street Zen downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research 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 target for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $517.13.

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.