Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,771 shares of the financial services provider’s stock after selling 120 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $3,762,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AMP. Brighton Jones LLC increased its stake in shares of Ameriprise Financial by 6.9% during 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 period. Van ECK Associates Corp increased its stake in shares of Ameriprise Financial by 35.6% during the fourth quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider’s stock worth $12,000,000 after acquiring an additional 5,919 shares during the period. Quadrant Private Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth about $227,000. TigerOak Management L.L.C. acquired a new position in shares of Ameriprise Financial during the fourth quarter worth about $883,000. Finally, Principal Securities Inc. increased its stake in shares of Ameriprise Financial by 3.0% during the fourth quarter. Principal Securities Inc. now owns 4,843 shares of the financial services provider’s stock worth $2,579,000 after acquiring an additional 141 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Morgan Stanley boosted 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. Raymond James upgraded 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. Keefe, Bruyette & Woods boosted 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. Finally, Royal Bank of Canada boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Trading Down 2.8%

Shares of AMP opened at $501.27 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average is $491.95 and its two-hundred day moving average is $514.08. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market capitalization of $47.73 billion, a P/E ratio of 15.16, a PEG ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP) last issued 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. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the business posted $8.39 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is 21.75%.

Ameriprise Financial Company 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.