Rockland Trust Co. Has $379,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Rockland Trust Co. increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 887 shares of the financial services provider’s stock after purchasing an additional 36 shares during the quarter. Rockland Trust Co.’s holdings in Ameriprise Financial were worth $379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its position in Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Ameriprise Financial by 0.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after purchasing an additional 73 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ameriprise Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after buying an additional 4,203 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $775,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 8,693 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMP shares. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report 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 lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Morgan Stanley cut their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Trading Up 0.1 %

NYSE AMP traded up $0.62 on Thursday, hitting $434.23. The company’s stock had a trading volume of 73,214 shares, compared to its average volume of 485,980. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The firm has a market cap of $43.13 billion, a P/E ratio of 14.79, a PEG ratio of 0.73 and a beta of 1.37. The company’s 50-day simple moving average is $426.45 and its 200 day simple moving average is $422.02.

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. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

About Ameriprise Financial

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.