Bremer Bank National Association Sells 264 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bremer Bank National Association trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,821 shares of the financial services provider’s stock after selling 264 shares during the period. Ameriprise Financial makes up about 1.3% of Bremer Bank National Association’s investment portfolio, making the stock its 22nd biggest position. Bremer Bank National Association’s holdings in Ameriprise Financial were worth $6,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Cerity Partners LLC lifted its holdings in Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after purchasing an additional 22,487 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Ameriprise Financial by 21.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,527 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 272 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Ameriprise Financial during the 4th quarter valued at about $2,317,000. TNF LLC bought a new position in Ameriprise Financial during the 4th quarter valued at about $223,000. Finally, Mackenzie Financial Corp lifted its holdings in Ameriprise Financial by 0.6% during the 4th quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 62 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMP shares. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Argus boosted their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Trading Up 2.8 %

NYSE AMP traded up $11.61 during trading on Wednesday, reaching $419.87. 581,692 shares of the stock traded hands, compared to its average volume of 489,485. The firm has a market cap of $41.70 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The stock’s 50-day moving average price is $426.06 and its 200 day moving average price is $420.58. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.44 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

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.