Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Lmcg Investments LLC

by · The Markets Daily

Lmcg Investments LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 28.3% during the first quarter, Holdings Channel reports. The firm owned 3,214 shares of the financial services provider’s stock after selling 1,268 shares during the period. Lmcg Investments LLC’s holdings in Ameriprise Financial were worth $1,556,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMP. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $517.13.

View Our Latest Research Report on Ameriprise Financial

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $507.75 on Friday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. 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 firm’s fifty day moving average price is $484.49 and its 200 day moving average price is $517.13.

Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) 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 firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the firm posted $8.39 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has initiated a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors 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 21.75%.

Ameriprise Financial Profile

(Free Report)

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.

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