Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Sienna Gestion

Sienna Gestion cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,816 shares of the financial services provider’s stock after selling 3,144 shares during the quarter. Ameriprise Financial accounts for approximately 1.0% of Sienna Gestion’s holdings, making the stock its 20th biggest position. Sienna Gestion’s holdings in Ameriprise Financial were worth $12,619,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. S Bank Fund Management Ltd acquired a new stake in Ameriprise Financial in the first quarter valued at $127,000. National Pension Service lifted its holdings in Ameriprise Financial by 5.8% in the first quarter. National Pension Service now owns 238,451 shares of the financial services provider’s stock valued at $115,437,000 after acquiring an additional 13,041 shares during the period. Russell Investments Group Ltd. lifted its holdings in Ameriprise Financial by 8.1% in the first quarter. Russell Investments Group Ltd. now owns 137,265 shares of the financial services provider’s stock valued at $66,414,000 after acquiring an additional 10,234 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in Ameriprise Financial by 7.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 32,209 shares of the financial services provider’s stock valued at $15,583,000 after acquiring an additional 2,105 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Ameriprise Financial by 0.8% in the first quarter. HighTower Advisors LLC now owns 45,243 shares of the financial services provider’s stock valued at $21,903,000 after acquiring an additional 337 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE AMP opened at $508.43 on Thursday. The firm has a market capitalization of $47.93 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.10 and a beta of 1.24. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50-day simple moving average is $521.94 and its 200-day simple moving average is $508.46.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping 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 firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company posted $8.72 EPS. Ameriprise Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase plan 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 reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend 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%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price target 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. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $534.71.

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.