Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,917 shares of the financial services provider’s stock after buying an additional 420 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ameriprise Financial were worth $2,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Ameriprise Financial by 3.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,791 shares of the financial services provider’s stock valued at $2,551,000 after buying an additional 150 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Ameriprise Financial by 3.0% in the 4th quarter. Private Trust Co. NA now owns 896 shares of the financial services provider’s stock valued at $477,000 after buying an additional 26 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth about $214,000. Finally, Metis Global Partners LLC grew its holdings in Ameriprise Financial by 25.5% during the fourth quarter. Metis Global Partners LLC now owns 4,322 shares of the financial services provider’s stock worth $2,301,000 after acquiring an additional 879 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley lifted their target price 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. 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. Keefe, Bruyette & Woods raised their price target 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. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $519.00.

Ameriprise Financial Stock Up 1.2%

Shares of Ameriprise Financial stock opened at $534.26 on Tuesday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $50.87 billion, a P/E ratio of 18.15, a PEG ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a fifty day moving average of $503.94 and a two-hundred day moving average of $510.95.

Ameriprise Financial (NYSE:AMP) 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. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.39 EPS. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is presently 21.75%.

Ameriprise Financial declared that its Board of Directors has approved a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.