Ameriprise Financial, Inc. (NYSE:AMP) Position Lessened by Ballentine Partners LLC

Ballentine Partners LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,898 shares of the financial services provider’s stock after selling 363 shares during the period. Ballentine Partners LLC’s holdings in Ameriprise Financial were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after buying an additional 516,437 shares in the last quarter. Geode Capital Management LLC grew its position in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock worth $1,407,607,000 after buying an additional 38,141 shares in the last quarter. GAMMA Investing LLC grew its position in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock worth $1,023,461,000 after buying an additional 2,109,824 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Ameriprise Financial by 1.7% during 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. Finally, Norges Bank acquired a new stake in Ameriprise Financial during the fourth quarter valued at approximately $689,272,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Raymond James Financial upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Finally, Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $526.43.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $536.17 on Monday. The company has a fifty day moving average price of $516.21 and a 200 day moving average price of $511.16. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market cap of $51.05 billion, a PE ratio of 18.22, a PEG ratio of 1.16 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $8.39 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has authorized a stock buyback 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 repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.