Kelly Financial Services LLC Has $336,000 Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kelly Financial Services LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 694 shares of the financial services provider’s stock after buying an additional 80 shares during the period. Kelly Financial Services LLC’s holdings in Ameriprise Financial were worth $336,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after buying an additional 516,437 shares during the last quarter. Geode Capital Management LLC grew its stake in Ameriprise Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after buying an additional 38,141 shares during the last quarter. GAMMA Investing LLC grew its stake in Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after buying an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ameriprise Financial by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock valued at $770,886,000 after buying an additional 23,655 shares during the last quarter. Finally, Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at $689,272,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMP. Morgan Stanley raised their target price 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. Raymond James 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 report 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 stock a “market perform” rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

NYSE AMP opened at $515.63 on Thursday. The company’s fifty day moving average is $488.67 and its two-hundred day moving average is $515.76. The firm has a market capitalization of $49.10 billion, a price-to-earnings ratio of 15.60, a P/E/G 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. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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 during 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 for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $8.39 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.24%. 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 (DPR) is presently 21.75%.

Ameriprise Financial declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to repurchase 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 shares are undervalued.

Ameriprise Financial 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.