Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Atwood & Palmer Inc.

Atwood & Palmer Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,079 shares of the financial services provider's stock after selling 2,263 shares during the quarter. Ameriprise Financial accounts for about 2.6% of Atwood & Palmer Inc.'s investment portfolio, making the stock its 9th largest holding. Atwood & Palmer Inc. owned approximately 0.08% of Ameriprise Financial worth $37,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 327 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $43,000. Van ECK Associates Corp boosted its position in shares of Ameriprise Financial by 35.6% during the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock valued at $12,000,000 after purchasing an additional 5,919 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $214,000. Finally, Certuity LLC raised its holdings in shares of Ameriprise Financial by 58.1% in the 4th quarter. Certuity LLC now owns 2,875 shares of the financial services provider's stock worth $1,531,000 after purchasing an additional 1,056 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $14.28 during trading on Friday, reaching $501.27. The company had a trading volume of 393,337 shares, compared to its average volume of 495,452. The firm's 50 day simple moving average is $491.95 and its two-hundred day simple moving average is $514.88. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year 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. The company has a market capitalization of $47.73 billion, a PE ratio of 15.16, a PEG ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly 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. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $8.39 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is 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 was Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.28%. Ameriprise Financial's payout ratio is currently 21.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMP shares. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report 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, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $517.13.

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.