Ameriprise Financial, Inc. (NYSE:AMP) Position Raised by Bremer Bank National Association

Bremer Bank National Association raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,224 shares of the financial services provider's stock after acquiring an additional 890 shares during the quarter. Ameriprise Financial makes up about 1.4% of Bremer Bank National Association's holdings, making the stock its 20th biggest holding. Bremer Bank National Association's holdings in Ameriprise Financial were worth $7,854,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. lifted its stake 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 worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the last quarter. OLD National Bancorp IN purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $250,000. Chicago Partners Investment Group LLC lifted its stake in Ameriprise Financial by 21.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 510 shares of the financial services provider's stock worth $273,000 after acquiring an additional 89 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in Ameriprise Financial by 1.0% in the fourth 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 last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of AMP traded up $10.56 during trading hours on Friday, reaching $518.95. The company had a trading volume of 326,071 shares, compared to its average volume of 494,599. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day simple moving average of $485.10 and a 200-day simple moving average of $516.83. The company has a market capitalization of $49.42 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (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 firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $8.39 EPS. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This is an increase 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 annualized dividend and a yield of 1.23%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMP. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Raymond James upgraded shares of 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 report on Monday, April 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank of Canada boosted their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price objective 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and an average 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.