Mediolanum International Funds Ltd Has $17.71 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mediolanum International Funds Ltd boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 36,716 shares of the financial services provider’s stock after purchasing an additional 553 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Ameriprise Financial were worth $17,705,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AMP. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $36,000. Quarry LP boosted its stake in shares of Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 52 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Ameriprise Financial by 68.7% in the 1st quarter. Sound Income Strategies LLC now owns 113 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 46 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $521.03 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $522.24 and a 200 day simple moving average of $511.44. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market cap of $49.61 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.11 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $8.72 EPS. Sell-side analysts predict 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 authorized a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 21.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their price objective on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday. Finally, Piper Sandler lifted 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $533.86.

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.