Copeland Capital Management LLC Has $17.62 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Copeland Capital Management LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 36,396 shares of the financial services provider's stock after selling 859 shares during the quarter. Copeland Capital Management LLC's holdings in Ameriprise Financial were worth $17,620,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares in the last quarter. NewEdge Wealth LLC boosted its stake in Ameriprise Financial by 5.2% in the fourth quarter. NewEdge Wealth LLC now owns 3,608 shares of the financial services provider's stock valued at $1,921,000 after buying an additional 178 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $28,000. Cable Hill Partners LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $205,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in Ameriprise Financial by 2.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 39,754 shares of the financial services provider's stock valued at $21,166,000 after purchasing an additional 900 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.6%

AMP stock traded up $3.02 during mid-day trading on Friday, reaching $528.50. The company's stock had a trading volume of 654,277 shares, compared to its average volume of 495,995. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24. The business's 50 day moving average price is $502.29 and its 200 day moving average price is $511.32. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $8.39 earnings per share. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, May 5th. Ameriprise Financial's payout ratio is presently 21.75%.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $519.00.

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.