Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,219 shares of the financial services provider’s stock after selling 233 shares during the quarter. Bridges Investment Management Inc.’s holdings in Ameriprise Financial were worth $1,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. BlackRock Inc. boosted its holdings in shares of Ameriprise Financial by 3.6% in the first quarter. BlackRock Inc. now owns 9,317,752 shares of the financial services provider’s stock worth $2,855,891,000 after buying an additional 322,614 shares during the period. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,405,659 shares of the financial services provider’s stock valued at $748,008,000 after acquiring an additional 15,491 shares in the last quarter. Morgan Stanley boosted its stake in Ameriprise Financial by 9.0% in the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after purchasing an additional 195,537 shares during the period. Bank of New York Mellon Corp grew its position in Ameriprise Financial by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,828,093 shares of the financial services provider’s stock worth $560,310,000 after purchasing an additional 17,431 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after purchasing an additional 1,586,121 shares during the period. 82.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 13,042 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $351.55, for a total value of $4,584,915.10. Following the sale, the chief financial officer now directly owns 8,048 shares of the company’s stock, valued at $2,829,274.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Walter Stanley Berman sold 13,042 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $351.55, for a total value of $4,584,915.10. Following the completion of the sale, the chief financial officer now directly owns 8,048 shares of the company’s stock, valued at $2,829,274.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 9,616 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $354.00, for a total transaction of $3,404,064.00. Following the completion of the sale, the chief executive officer now owns 157,103 shares in the company, valued at approximately $55,614,462. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $347.12 on Friday. The company has a market capitalization of $35.62 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 0.66 and a beta of 1.48. Ameriprise Financial, Inc. has a 12 month low of $249.35 and a 12 month high of $358.02. The firm has a 50 day moving average of $342.79 and a two-hundred day moving average of $321.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.43.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 27th. The financial services provider reported $7.44 earnings per share for the quarter, topping the consensus estimate of $7.29 by $0.15. Ameriprise Financial had a return on equity of 82.23% and a net margin of 15.94%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the company earned $5.81 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 29.94 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase program on Wednesday, July 26th that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a dividend of $1.35 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, August 4th. This represents a $5.40 dividend on an annualized basis and a yield of 1.56%. Ameriprise Financial’s payout ratio is currently 25.36%.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMP shares. Royal Bank of Canada raised their target price on Ameriprise Financial from $385.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Morgan Stanley raised their price objective on Ameriprise Financial from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Finally, StockNews.com assumed coverage on Ameriprise Financial in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $361.00.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through 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.