Bessemer Group Inc. Sells 8,943 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bessemer Group Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 54.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,465 shares of the financial services provider's stock after selling 8,943 shares during the period. Bessemer Group Inc.'s holdings in Ameriprise Financial were worth $3,613,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in 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 valued at $891,000 after acquiring an additional 327 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Ameriprise Financial in the 4th quarter valued at approximately $43,000. GAMMA Investing LLC lifted its stake in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after acquiring an additional 83 shares in the last quarter. Spire Wealth Management lifted its stake in Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after acquiring an additional 683 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 806 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $4.67 during trading on Tuesday, reaching $538.40. 401,950 shares of the company's stock were exchanged, compared to its average volume of 495,399. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $51.27 billion, a PE ratio of 18.29, a PEG ratio of 1.99 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm's fifty day moving average price is $505.35 and its 200-day moving average price is $511.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted 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 for the quarter, compared to analyst estimates 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 was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.39 EPS. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its board 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 repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. Ameriprise Financial's payout ratio is presently 21.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMP shares. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods boosted their price target on 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $519.00.

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.