Clarius Group LLC Buys 1,280 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Clarius Group LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 110.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,434 shares of the financial services provider’s stock after acquiring an additional 1,280 shares during the period. Clarius Group LLC’s holdings in Ameriprise Financial were worth $1,178,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMP. GAMMA Investing LLC raised its position in Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. Norges Bank acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $689,272,000. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after buying an additional 516,437 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares during the period. Finally, Northern Trust Corp boosted its position in Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after buying an additional 209,549 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 1.2%

NYSE:AMP opened at $506.74 on Wednesday. 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 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s fifty day moving average is $494.35 and its 200-day moving average is $513.60. The firm has a market cap of $48.25 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.91 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the firm posted $8.39 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback 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 repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $1.60 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley increased their price objective on 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 Financial raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Finally, Royal Bank Of Canada upped their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $517.13.

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.