Plimoth Trust Co. LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Plimoth Trust Co. LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 868 shares of the financial services provider’s stock after selling 75 shares during the period. Plimoth Trust Co. LLC’s holdings in Ameriprise Financial were worth $420,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after buying an additional 516,437 shares during the period. Geode Capital Management LLC boosted its position in Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after acquiring an additional 38,141 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ameriprise Financial by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock worth $770,886,000 after acquiring an additional 23,655 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $689,272,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.1%

AMP stock opened at $506.01 on Thursday. The stock has a market capitalization of $48.18 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm has a 50 day moving average of $494.99 and a 200 day moving average of $513.55.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company earned $8.39 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its board has approved a share buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is presently 21.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley boosted 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. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Raymond James Financial raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods upped their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.