Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 72.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200 shares of the financial services provider's stock after selling 523 shares during the period. Central Pacific Bank Trust Division's holdings in Ameriprise Financial were worth $97,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial during the fourth quarter worth about $30,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Trading Up 0.1%

Ameriprise Financial stock traded up $0.35 during mid-day trading on Thursday, reaching $507.87. 162,783 shares of the company traded hands, compared to its average volume of 535,204. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The firm has a market capitalization of $48.36 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.24. 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 firm's 50 day moving average price is $484.03 and its 200 day moving average price is $517.52.

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, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the firm posted $8.39 EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal 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 shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company 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. 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 dividend on an annualized basis and a dividend yield of 1.26%. Ameriprise Financial's payout ratio is 21.75%.

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.