Insight Advisors LLC PA Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Insight Advisors LLC PA lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,315 shares of the financial services provider’s stock after selling 25 shares during the quarter. Insight Advisors LLC PA’s holdings in Ameriprise Financial were worth $637,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 327 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $43,000. Van ECK Associates Corp boosted its position in shares of Ameriprise Financial by 35.6% in the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider’s stock valued at $12,000,000 after purchasing an additional 5,919 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $214,000. Finally, Certuity LLC boosted its position in shares of Ameriprise Financial by 58.1% in the 4th quarter. Certuity LLC now owns 2,875 shares of the financial services provider’s stock valued at $1,531,000 after purchasing an additional 1,056 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Keefe, Bruyette & Woods increased their price objective 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. Royal Bank of Canada increased their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a report on Monday, April 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $517.13.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $507.75 on Friday. The company has a market cap of $48.35 billion, a PE ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The stock has a 50 day simple moving average of $484.49 and a 200-day simple moving average of $517.13.

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 analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.39 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.26%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is 21.75%.

Ameriprise Financial declared that its board has initiated 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 reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.