Yousif Capital Management LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Yousif Capital Management LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,722 shares of the financial services provider’s stock after selling 1,444 shares during the quarter. Yousif Capital Management LLC’s holdings in Ameriprise Financial were worth $6,643,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $30,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMP. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Finally, Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Trading Down 0.2%

NYSE:AMP opened at $515.63 on Thursday. The business’s 50-day moving average is $488.67 and its two-hundred day moving average is $515.76. The firm has a market capitalization of $49.10 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.39 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

Ameriprise Financial declared that its board has approved a stock 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Ameriprise Financial 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.