Ameriprise Financial, Inc. (NYSE:AMP) Holdings Decreased by Maj Invest Holding A S

Maj Invest Holding A S reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,109 shares of the financial services provider’s stock after selling 18,986 shares during the quarter. Ameriprise Financial comprises about 5.8% of Maj Invest Holding A S’s investment portfolio, making the stock its 6th biggest position. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $161,260,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $26,000. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $28,000. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. raised its position in 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 purchasing an additional 20 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMP. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday. Raymond James Financial raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. Royal Bank Of Canada raised their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $517.86.

Ameriprise Financial Stock Up 0.1%

Shares of NYSE AMP opened at $543.06 on Friday. 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 $51.71 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock’s 50-day simple moving average is $509.70 and its 200-day simple moving average is $511.23.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company earned $8.39 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

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 given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s payout ratio is presently 21.75%.

Ameriprise Financial declared that its board has approved a share buyback program on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.