Sumitomo Mitsui DS Asset Management Company Ltd Acquires 207 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,246 shares of the financial services provider’s stock after acquiring an additional 207 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ameriprise Financial were worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. SRS Capital Advisors Inc. raised its position in shares of Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. HighPoint Advisor Group LLC raised its holdings in Ameriprise Financial by 0.8% in 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 acquiring an additional 20 shares during the period. Forum Financial Management LP raised its holdings in Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after acquiring an additional 21 shares during the period. Horizon Investments LLC lifted its position in Ameriprise Financial by 1.4% during the fourth 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 during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Ameriprise Financial by 1.3% during the first 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 during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $542.14 on Thursday. The firm has a market cap of $51.62 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s fifty day moving average price is $506.77 and its two-hundred day moving average price is $511.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP – Get Free Report) last issued 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 for 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 last year, the business earned $8.39 earnings per share. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed 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 represents a $6.40 dividend on an annualized basis and a yield of 1.18%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AMP shares. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Finally, Raymond James Financial upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $519.00.

Check Out Our Latest Stock Analysis on Ameriprise Financial

About Ameriprise Financial

(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.

See Also