Credit Agricole S A Has $37.15 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Credit Agricole S A cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,730 shares of the financial services provider’s stock after selling 6,278 shares during the quarter. Credit Agricole S A’s holdings in Ameriprise Financial were worth $37,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the period. Marshall Wace LLP increased its position in Ameriprise Financial by 1,200.6% in the fourth quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider’s stock worth $3,462,000 after purchasing an additional 6,003 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Ameriprise Financial by 8.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,678 shares of the financial services provider’s stock worth $3,556,000 after purchasing an additional 523 shares during the period. Tower Research Capital LLC TRC increased its position in Ameriprise Financial by 99.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,662 shares of the financial services provider’s stock worth $3,547,000 after purchasing an additional 3,325 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Ameriprise Financial by 2.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 8,637 shares of the financial services provider’s stock worth $4,599,000 after purchasing an additional 178 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $505.4040 on Wednesday. The firm has a market capitalization of $47.64 billion, a P/E ratio of 15.73, a PEG ratio of 1.08 and a beta of 1.24. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The business has a 50-day moving average of $521.26 and a 200-day moving average of $506.63. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company earned $8.72 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its board has authorized a stock buyback plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s payout ratio is 19.91%.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Morgan Stanley lowered Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their target price on 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 boosted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $534.71.

About Ameriprise Financial

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.