Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,119 shares of the financial services provider’s stock after selling 68 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Ameriprise Financial were worth $1,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $518.95 on Monday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. 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 business has a 50 day simple moving average of $485.10 and a 200-day simple moving average of $516.13. The stock has a market capitalization of $49.42 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the business earned $8.39 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its board has approved a stock buyback 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 reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price objective 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 boosted their price objective on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Raymond James upgraded 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. Finally, Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One 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. According to data from MarketBeat, the stock has an average 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.