Ameriprise Financial, Inc. $AMP Shares Newly Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,169,427 shares of the financial services provider's stock, valued at approximately $575,767,000. Ameriprise Financial makes up approximately 7.0% of Douglas Lane & Associates LLC's investment portfolio, making the stock its largest holding. Douglas Lane & Associates LLC owned approximately 1.30% of Ameriprise Financial as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Ameriprise Financial by 1,279.7% during the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider's stock worth $29,069,493,000 after acquiring an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Ameriprise Financial by 960.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider's stock worth $1,537,817,000 after acquiring an additional 3,036,128 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $925,211,000. Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after purchasing an additional 19,731 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Ameriprise Financial by 18.7% during the 1st quarter. First Trust Advisors LP now owns 983,096 shares of the financial services provider's stock valued at $436,888,000 after acquiring an additional 154,659 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.5%

Shares of NYSE:AMP traded up $2.68 during trading on Friday, hitting $501.76. 141,042 shares of the company's stock traded hands, compared to its average volume of 641,979. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. The company has a 50-day moving average price of $540.34 and a 200-day moving average price of $495.47. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.11 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.40%.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMP. Bank of America reiterated a "buy" rating and set a $570.00 price target on shares of Ameriprise Financial in a report on Monday. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Zacks Research lowered Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $558.00.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Walter Berman sold 11,012 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last ninety days. Company insiders own 0.60% of the company's stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.

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