Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 36.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,817 shares of the financial services provider's stock after selling 10,844 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ameriprise Financial were worth $9,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after acquiring an additional 327 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $43,000. Fisher Asset Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $214,000. IPG Investment Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $1,353,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of Ameriprise Financial by 49.8% in the 4th quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider's stock worth $372,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Morgan Stanley upped their price target 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, 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 report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $506.01 on Friday. The business's fifty day moving average price is $495.97 and its two-hundred day moving average price is $513.14. The stock has a market cap of $48.18 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the prior year, the firm earned $8.39 EPS. Ameriprise Financial's quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders 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 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.