Chesley Taft & Associates LLC Sells 546 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Chesley Taft & Associates LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,612 shares of the financial services provider's stock after selling 546 shares during the quarter. Chesley Taft & Associates LLC's holdings in Ameriprise Financial were worth $4,169,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. TCTC Holdings LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the fourth quarter worth about $30,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMP. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Trading Up 2.1%

NYSE AMP traded up $10.56 during trading hours on Friday, reaching $518.95. The company's stock had a trading volume of 326,071 shares, compared to its average volume of 495,393. The firm has a fifty day simple moving average of $485.10 and a 200-day simple moving average of $516.13. The stock has a market cap of $49.42 billion, a P/E ratio of 15.70, 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 - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the business earned $8.39 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $1.60 per share. This is a positive change 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 yield of 1.23%. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial announced that its board has authorized a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in 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.

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.