Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 59.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,798 shares of the financial services provider's stock after selling 4,091 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Ameriprise Financial were worth $1,355,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. Norges Bank purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $689,272,000. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after purchasing an additional 516,437 shares during the period. Proficio Capital Partners LLC raised its stake in Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after purchasing an additional 371,306 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after buying an additional 209,549 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ameriprise Financial Stock Up 0.4%

NYSE AMP traded up $2.30 on Tuesday, hitting $521.26. 535,347 shares of the stock traded hands, compared to its average volume of 497,189. The company has a market capitalization of $49.63 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The stock has a 50-day moving average of $497.68 and a 200 day moving average of $511.76. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the firm earned $8.39 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial announced that its board has authorized a share buyback program on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy 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 shares are undervalued.

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.