Insight Advisors LLC PA Has $637,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Insight Advisors LLC PA reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,315 shares of the financial services provider’s stock after selling 25 shares during the period. Insight Advisors LLC PA’s holdings in Ameriprise Financial were worth $637,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Brighton Jones LLC increased its stake in shares of 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 acquiring an additional 50 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $208,000. Stratos Wealth Partners LTD. increased its stake in shares of Ameriprise Financial by 15.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,419 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 191 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its stake in shares of Ameriprise Financial by 120.0% in the fourth quarter. Y.D. More Investments Ltd now owns 121 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 66 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.0%

Ameriprise Financial stock opened at $507.75 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company’s fifty day moving average price is $484.49 and its two-hundred day moving average price is $517.13.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. 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 posted $8.39 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is currently 21.75%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen raised shares of 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, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $517.13.

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.