Wealthcare Advisory Partners LLC Has $228,000 Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Wealthcare Advisory Partners LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 470 shares of the financial services provider’s stock after acquiring an additional 33 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Ameriprise Financial were worth $228,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Royal Bank of Canada boosted their price objective 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. Keefe, Bruyette & Woods boosted 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 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 objective for the company in a research note on Monday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $501.27 on Friday. The firm’s 50-day moving average price is $491.95 and its 200-day moving average price is $514.48. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $47.73 billion, a PE ratio of 15.16, a PEG ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. The company 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 19.70% and a return on equity of 69.35%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $8.39 earnings per share. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has initiated a stock repurchase plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.28%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio (DPR) is presently 21.75%.

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.