Transcend Capital Advisors LLC Has $729,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Transcend Capital Advisors LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,505 shares of the financial services provider’s stock after acquiring an additional 80 shares during the period. Transcend Capital Advisors LLC’s holdings in Ameriprise Financial were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SRS Capital Advisors Inc. raised its holdings in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 20 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after acquiring an additional 20 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 21 shares during the last quarter. Horizon Investments LLC increased its stake in Ameriprise Financial by 1.4% in the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock valued at $851,000 after buying an additional 22 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Ameriprise Financial by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock valued at $852,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on AMP shares. Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Morgan Stanley increased 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. Keefe, Bruyette & Woods increased 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. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Raymond James Financial upgraded 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 research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $519.00.

Ameriprise Financial Stock Up 0.6%

Ameriprise Financial stock opened at $528.50 on Friday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a 50 day moving average price of $502.29 and a 200-day moving average price of $511.32. The company has a market capitalization of $50.32 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share 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 firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the firm earned $8.39 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is an increase 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 1.21%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has approved a stock 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 purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.