Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 67.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,674 shares of the financial services provider's stock after selling 60,221 shares during the period. Pinebridge Investments L.P.'s holdings in Ameriprise Financial were worth $15,799,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded up $0.74 on Tuesday, reaching $469.12. 172,784 shares of the company's stock were exchanged, compared to its average volume of 489,799. The stock has a fifty day moving average of $485.25 and a 200-day moving average of $522.27. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $44.95 billion, a PE ratio of 14.19, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its 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 the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.39 earnings per share. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.36%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. Ameriprise Financial's payout ratio is presently 21.75%.

Ameriprise Financial declared that its board has authorized a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating on the stock in a report on Tuesday. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $516.33.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.