Midland Wealth Advisors LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Midland Wealth Advisors LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464 shares of the financial services provider’s stock after selling 80 shares during the period. Midland Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. SRS Capital Advisors Inc. lifted its position in Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 20 shares during the period. HighPoint Advisor Group LLC lifted its position in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after acquiring an additional 20 shares during the period. Forum Financial Management LP lifted its position in Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after acquiring an additional 21 shares during the period. Howard Capital Management Inc. lifted its position in Ameriprise Financial by 3.4% during the 4th quarter. Howard Capital Management Inc. now owns 660 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 22 shares during the period. Finally, Horizon Investments LLC lifted its position in Ameriprise Financial by 1.4% during the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock valued at $851,000 after acquiring an additional 22 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. 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. 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. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Raymond James upgraded 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 note on Monday, April 7th. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. 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, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $517.13.

Ameriprise Financial Stock Performance

AMP opened at $517.77 on Tuesday. The firm has a market cap of $49.30 billion, a P/E ratio of 15.66, a PEG 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 50 day simple moving average of $485.57 and a two-hundred day simple moving average of $515.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

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. The business had revenue of $4.35 billion during 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 company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.39 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This is a positive change 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 1.24%. The ex-dividend date was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

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

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.