Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,396 shares of the financial services provider’s stock after selling 859 shares during the period. Copeland Capital Management LLC’s holdings in Ameriprise Financial were worth $17,620,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMP. GAMMA Investing LLC increased its position in Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after acquiring an additional 2,109,824 shares during the period. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at about $689,272,000. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after purchasing an additional 516,437 shares during the period. Northern Trust Corp increased its position in 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 worth $675,344,000 after purchasing an additional 209,549 shares during the period. Finally, Amundi increased its position in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after purchasing an additional 208,195 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $528.50 on Friday. The business’s 50 day simple moving average is $502.29 and its 200-day simple moving average is $511.59. The firm has a market capitalization of $50.32 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced 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. The business 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 68.93% and a net margin of 17.14%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.39 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has initiated a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company 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 is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.21%. Ameriprise Financial’s payout ratio is 21.75%.

Analyst Ratings Changes

Several equities analysts have issued reports on AMP shares. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their target price 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 Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Finally, Raymond James Financial upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ameriprise Financial 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.