EverSource Wealth Advisors LLC Buys 111 Shares of Ameriprise Financial, Inc. $AMP

EverSource Wealth Advisors LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the first quarter, Holdings Channel reports. The firm owned 1,143 shares of the financial services provider’s stock after acquiring an additional 111 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $553,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $36,000. Quarry LP lifted its stake in 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 during the last quarter. Finally, TCTC Holdings LLC lifted its stake in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $502.75 on Monday. The company has a market cap of $47.39 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.07 and a beta of 1.24. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a fifty day moving average price of $521.74 and a 200-day moving average price of $506.90.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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 business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.72 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a stock repurchase program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to repurchase 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 shares are undervalued.

Ameriprise Financial Announces Dividend

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 $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 19.91%.

Analysts Set New Price Targets

A number of equities analysts have commented on AMP shares. Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised 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 report on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.