Chesley Taft & Associates LLC Has $4.17 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Chesley Taft & Associates LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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.

Several other large investors have 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 worth about $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a research report on Monday, April 7th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Price Performance

AMP traded up $10.56 during midday trading on Friday, hitting $518.95. The company had a trading volume of 326,071 shares, compared to its average volume of 493,754. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm's 50-day simple moving average is $484.49 and its 200-day simple moving average is $517.13. The company has a market capitalization of $49.42 billion, a PE ratio of 15.70, a P/E/G ratio of 1.15 and a beta of 1.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the previous year, the company earned $8.39 EPS. Ameriprise Financial's revenue was up 3.6% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial Company 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.