Clarius Group LLC Purchases 1,280 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Clarius Group LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 110.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,434 shares of the financial services provider’s stock after purchasing an additional 1,280 shares during the period. Clarius Group LLC’s holdings in Ameriprise Financial were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in Ameriprise Financial during the 4th quarter worth $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the 4th quarter worth about $28,000. Finally, Sunbeam Capital Management LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $31,000. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price objective on 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 Financial raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a report on Monday, April 7th. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada raised their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $517.13.

Ameriprise Financial Stock Down 1.2%

NYSE AMP opened at $506.74 on Wednesday. The business has a fifty day moving average price of $494.35 and a two-hundred day moving average price of $513.60. The stock has a market capitalization of $48.25 billion, a PE ratio of 17.22, a PEG ratio of 1.91 and a beta of 1.24. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. Ameriprise Financial’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.39 EPS. Equities analysts expect 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. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.26%. Ameriprise Financial’s payout ratio is presently 21.75%.

Ameriprise Financial announced that its board has authorized a share repurchase 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 repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is 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.