Blair William & Co. IL Lowers Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Blair William & Co. IL lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% during the first quarter, Holdings Channel.com reports. The firm owned 12,651 shares of the financial services provider’s stock after selling 2,279 shares during the quarter. Blair William & Co. IL’s holdings in Ameriprise Financial were worth $6,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC grew its position in Ameriprise Financial by 49,248.9% during the 1st 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ameriprise Financial by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock worth $770,886,000 after buying an additional 23,655 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Ameriprise Financial by 19.8% during the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock valued at $675,344,000 after buying an additional 209,549 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Ameriprise Financial by 17.9% during the first quarter. Federated Hermes Inc. now owns 610,322 shares of the financial services provider’s stock valued at $295,463,000 after acquiring an additional 92,653 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Ameriprise Financial by 3.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 484,182 shares of the financial services provider’s stock worth $257,793,000 after acquiring an additional 15,252 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $508.18 on Thursday. The company has a 50 day simple moving average of $522.30 and a two-hundred day simple moving average of $510.30. 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 market cap of $48.39 billion, a P/E ratio of 15.81, a PEG ratio of 1.08 and a beta of 1.24. Ameriprise Financial, Inc. has a 1-year low of $392.10 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.72 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has approved a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $534.71.

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.