Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Increased by CX Institutional

CX Institutional raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1,311.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,514 shares of the financial services provider’s stock after acquiring an additional 8,840 shares during the period. CX Institutional’s holdings in Ameriprise Financial were worth $4,606,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. raised its stake 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 in the last quarter. HighPoint Advisor Group LLC raised its stake 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 in the last quarter. Forum Financial Management LP raised its stake 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 in the last quarter. Howard Capital Management Inc. raised its stake 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 in the last quarter. Finally, Horizon Investments LLC raised its stake in shares of Ameriprise Financial by 1.4% in the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock worth $851,000 after buying an additional 22 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $515.63 on Thursday. The business’s 50-day simple moving average is $488.67 and its 200-day simple moving average is $515.76. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 firm has a market cap of $49.10 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. 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 company posted $8.39 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has initiated a share buyback plan 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 plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a 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 21.75%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods upped 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. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Raymond James raised 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 report on Monday, April 7th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned 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, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $517.13.

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.