Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Harfst & Associates Inc.

Harfst & Associates Inc. increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% in the first quarter, Holdings Channel reports. The firm owned 4,872 shares of the financial services provider’s stock after acquiring an additional 26 shares during the period. Harfst & Associates Inc.’s holdings in Ameriprise Financial were worth $2,358,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Finally, Morgan Stanley cut Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $534.71.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $508.43 on Thursday. The stock has a market cap of $47.93 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $521.94 and a 200-day moving average of $508.46. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

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

Ameriprise Financial declared that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

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

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.