Cyndeo Wealth Partners LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cyndeo Wealth Partners LLC decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,771 shares of the financial services provider’s stock after selling 120 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $3,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. Royal Bank of Canada increased 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. Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, five have issued 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 a consensus rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $501.27 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm’s 50 day moving average is $491.95 and its two-hundred day moving average is $514.08. The company has a market cap of $47.73 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.15 and a beta of 1.24. 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) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the business earned $8.39 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has initiated a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

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.