Foster & Motley Inc. Sells 656 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Foster & Motley Inc. reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,971 shares of the financial services provider’s stock after selling 656 shares during the quarter. Foster & Motley Inc.’s holdings in Ameriprise Financial were worth $10,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC grew its holdings in shares of Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after buying an additional 20 shares during the last quarter. Forum Financial Management LP boosted its stake in Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 21 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Ameriprise Financial by 3.0% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock worth $852,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $521.11 on Wednesday. The company has a market capitalization of $49.62 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a 50-day simple moving average of $522.22 and a 200 day simple moving average of $511.20.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business posted $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on AMP shares. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley downgraded shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $533.86.

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.