Legacy Private Trust Co. Has $5.71 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Legacy Private Trust Co. reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,802 shares of the financial services provider's stock after selling 2,446 shares during the quarter. Legacy Private Trust Co.'s holdings in Ameriprise Financial were worth $5,713,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMP. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial during the 4th quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the 4th quarter worth about $30,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.5%

NYSE AMP traded up $2.41 on Tuesday, hitting $512.54. The company's stock had a trading volume of 91,790 shares, compared to its average volume of 492,038. The firm has a market cap of $48.81 billion, a PE ratio of 15.50, a PEG ratio of 1.15 and a beta of 1.28. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company's 50-day moving average is $483.21 and its 200 day moving average is $517.61.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping 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 return on equity of 69.35% and a net margin of 19.70%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $8.39 earnings per share. As a group, analysts predict 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 stock buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.25%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. 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 note on Monday, April 7th. Royal Bank of Canada increased their price objective 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. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Morgan Stanley increased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial 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.