Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 438,596 shares of the financial services provider’s stock after purchasing an additional 21,447 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ameriprise Financial were worth $212,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock worth $1,023,461,000 after buying an additional 2,109,824 shares in the last quarter. Norges Bank purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $689,272,000. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after acquiring an additional 371,306 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock valued at $675,344,000 after purchasing an additional 209,549 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.6%

NYSE:AMP opened at $524.22 on Thursday. The company has a market capitalization of $49.92 billion, a PE ratio of 17.81, a P/E/G ratio of 1.95 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. The stock’s 50 day moving average price is $499.80 and its 200 day moving average price is $511.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating 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 company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $8.39 earnings per share. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders 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 dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio is 21.75%.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Raymond James Financial raised 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 report on Monday, April 7th. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Royal Bank Of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $517.13.

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.