Ameriprise Financial, Inc. (NYSE:AMP) Stake Cut by Raiffeisen Bank International AG

Raiffeisen Bank International AG cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,234 shares of the financial services provider’s stock after selling 1,214 shares during the quarter. Raiffeisen Bank International AG’s holdings in Ameriprise Financial were worth $3,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at approximately $36,000. Quarry LP lifted its position in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider’s stock worth $46,000 after buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its stake in shares of Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $534.71.

Ameriprise Financial Trading Down 3.2%

AMP opened at $501.61 on Monday. The firm’s fifty day moving average is $522.52 and its two-hundred day moving average is $510.66. The firm has a market cap of $47.76 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the business posted $8.72 EPS. Ameriprise Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Ameriprise Financial announced that its Board of Directors has approved a share buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.