Sanibel Captiva Trust Company Inc. Sells 232 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sanibel Captiva Trust Company Inc. decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.0% in the first quarter, Holdings Channel reports. The fund owned 2,657 shares of the financial services provider’s stock after selling 232 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Ameriprise Financial were worth $1,286,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial in the fourth quarter worth $30,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AMP shares. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada raised 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. Finally, Raymond James raised 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $517.13.

Ameriprise Financial Trading Down 0.3%

NYSE AMP opened at $516.56 on Wednesday. The stock has a market cap of $49.19 billion, a PE ratio of 15.62, a PEG ratio of 1.15 and a beta of 1.24. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company’s 50-day moving average price is $486.79 and its 200-day moving average price is $515.76. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last issued its earnings results 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. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period 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. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed 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 represents a $6.40 annualized dividend and a yield of 1.24%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend 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 repurchase plan 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 purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.