Diversified Trust Co Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

Diversified Trust Co trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,536 shares of the financial services provider’s stock after selling 49 shares during the quarter. Diversified Trust Co’s holdings in Ameriprise Financial were worth $3,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SRS Capital Advisors Inc. lifted its stake in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after buying an additional 20 shares during the period. Forum Financial Management LP raised its holdings in shares of Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after buying an additional 21 shares during the period. Horizon Investments LLC lifted its position in Ameriprise Financial by 1.4% during the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock worth $851,000 after acquiring an additional 22 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Ameriprise Financial by 1.3% during the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 22 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.2%

AMP stock opened at $525.25 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm has a 50 day simple moving average of $501.01 and a 200-day simple moving average of $511.71. The company has a market capitalization of $50.01 billion, a P/E ratio of 17.85, a PEG ratio of 1.96 and a beta of 1.24. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

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, beating analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.39 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is 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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Raymond James Financial upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research note on Monday, April 7th. Morgan Stanley lifted 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. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial 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.