Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 59,400 shares of the financial services provider’s stock after buying an additional 842 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ameriprise Financial were worth $28,439,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AMP. TCTC Holdings LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $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. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial during the first quarter worth about $36,000. Finally, SBI Securities Co. Ltd. purchased a new position in Ameriprise Financial during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $539.27 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $51.35 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The firm’s fifty day moving average price is $513.73 and its 200 day moving average price is $511.52.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate 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 was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.39 EPS. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMP shares. Piper Sandler increased their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Raymond James Financial raised 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 report on Monday, April 7th. One investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $522.14.

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.