Bremer Bank National Association Acquires 890 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bremer Bank National Association raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,224 shares of the financial services provider's stock after buying an additional 890 shares during the quarter. Ameriprise Financial comprises about 1.4% of Bremer Bank National Association's holdings, making the stock its 20th largest position. Bremer Bank National Association's holdings in Ameriprise Financial were worth $7,854,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMP. Jones Financial Companies Lllp increased its position in shares of 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 during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $43,000. Van ECK Associates Corp lifted its holdings in shares of Ameriprise Financial by 35.6% in the 4th quarter. Van ECK Associates Corp now owns 22,539 shares of the financial services provider's stock worth $12,000,000 after acquiring an additional 5,919 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $214,000. Finally, Certuity LLC grew its holdings in shares of Ameriprise Financial by 58.1% during the 4th quarter. Certuity LLC now owns 2,875 shares of the financial services provider's stock valued at $1,531,000 after purchasing an additional 1,056 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 1.0%

AMP stock traded down $5.17 during trading on Wednesday, reaching $508.07. The company had a trading volume of 640,930 shares, compared to its average volume of 494,070. The business has a 50 day moving average of $483.50 and a 200 day moving average of $517.59. 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 cap of $48.38 billion, a P/E ratio of 15.37, a PEG ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 69.35% and a net margin of 19.70%. The firm's revenue 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. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is 21.75%.

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

Analysts Set New Price Targets

Several research firms have weighed in on AMP. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a research note on Monday, April 7th. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised 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. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One equities 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $517.13.

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.