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Ameriprise Gets Bullish

June 27, 2011

Ameriprise Financial was given to 'green light' to increase market repurchases of its common stock.  The board of directors just authorized management to spend up to $2 billion to buyback shares - in addition to its previous authorization of $1.5B in buybacks.  Under the current program, Ameriprise had spent $969 million through Q1 of 2011;  the firm has until the 2012 annual shareholder meeting to spend the remaining $531 .  The new, additional $2 billion authorization may be spent through 6/28/13;   [theflyonthewall.com, 6/15/11]