Fulton Bank N.A. Sells 563 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fulton Bank N.A. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,640 shares of the financial services provider's stock after selling 563 shares during the period. Fulton Bank N.A.'s holdings in Ameriprise Financial were worth $3,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Brighton Jones LLC increased its holdings in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $250,000. Chicago Partners Investment Group LLC boosted its position in Ameriprise Financial by 21.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 510 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 89 shares during the period. Finally, Greenleaf Trust increased its holdings in shares of Ameriprise Financial by 1.0% in the 4th quarter. Greenleaf Trust now owns 4,949 shares of the financial services provider's stock worth $2,635,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

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

Ameriprise Financial Stock Up 0.0%

Ameriprise Financial stock traded up $0.23 during mid-day trading on Thursday, hitting $507.75. 531,213 shares of the company's stock were exchanged, compared to its average volume of 494,404. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a 50 day moving average of $484.03 and a two-hundred day moving average of $517.52. The stock has a market cap of $48.35 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

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 for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $8.39 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

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

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given 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 of this dividend was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.26%. Ameriprise Financial's payout ratio is currently 21.75%.

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.