Adero Partners LLC Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Adero Partners LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 610 shares of the financial services provider’s stock after acquiring an additional 25 shares during the quarter. Adero Partners LLC’s holdings in Ameriprise Financial were worth $295,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMP. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $28,000. Finally, Sunbeam Capital Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMP. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley raised their price target 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. 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. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. One equities research 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Up 2.2%

Shares of AMP stock opened at $512.61 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a market cap of $48.81 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.15 and a beta of 1.24. The company has a 50 day simple moving average of $493.69 and a two-hundred day simple moving average of $513.65.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping 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 firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the business posted $8.39 EPS. Ameriprise Financial’s revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.25%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

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.