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SG Americas Securities LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 975.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,961 shares of the financial services provider’s stock after purchasing an additional 7,221 shares during the quarter. SG Americas Securities LLC’s holdings in Ameriprise Financial were worth $3,854,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AMP. SRS Capital Advisors Inc. boosted its position in shares of Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 20 shares during the period. HighPoint Advisor Group LLC raised its stake in Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after acquiring an additional 20 shares in the last quarter. Forum Financial Management LP raised its stake in Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 21 shares in the last quarter. Howard Capital Management Inc. raised its stake in Ameriprise Financial by 3.4% during the fourth quarter. Howard Capital Management Inc. now owns 660 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 22 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of Ameriprise Financial by 1.4% during the fourth quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Stock Down 2.8%
NYSE:AMP opened at $501.27 on Friday. The firm has a market capitalization of $47.73 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock’s 50 day moving average price is $491.95 and its two-hundred day moving average price is $514.88. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its 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. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the company posted $8.39 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.
Ameriprise Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Ameriprise Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s payout ratio is currently 21.75%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on AMP shares. Royal Bank of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $517.13.
Get Our Latest Stock Report on AMP
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.
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