Hohimer Wealth Management LLC Has $5.02 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Hohimer Wealth Management LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,372 shares of the financial services provider’s stock after buying an additional 30 shares during the quarter. Ameriprise Financial comprises 1.0% of Hohimer Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Hohimer Wealth Management LLC’s holdings in Ameriprise Financial were worth $5,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. HighPoint Advisor Group LLC grew its position in shares of 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 worth $1,419,000 after buying an additional 20 shares during the period. Forum Financial Management LP grew its position 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 valued at $790,000 after purchasing an additional 21 shares during the period. Horizon Investments LLC grew its position 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 valued at $851,000 after purchasing an additional 22 shares during the period. Ritholtz Wealth Management grew its position in shares of 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 purchasing an additional 22 shares during the period. Finally, Apella Capital LLC grew its position in shares of Ameriprise Financial by 4.1% in the 1st quarter. Apella Capital LLC now owns 581 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 23 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James Financial upgraded 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 report on Monday, April 7th. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada boosted their price objective on Ameriprise Financial from $565.00 to $595.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wall Street Zen upgraded 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, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $526.43.

Ameriprise Financial Trading Down 1.2%

NYSE AMP opened at $536.17 on Monday. The stock has a market capitalization of $51.05 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.16 and a beta of 1.23. The stock’s 50 day moving average price is $516.21 and its two-hundred day moving average price is $511.16. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its 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. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.39 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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 dividend of $1.60 per share. The ex-dividend date was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is currently 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.