Private Trust Co. NA Grows Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Private Trust Co. NA boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.0% in the third quarter, HoldingsChannel reports. The firm owned 870 shares of the financial services provider’s stock after buying an additional 151 shares during the quarter. Private Trust Co. NA’s holdings in Ameriprise Financial were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Hancock Whitney Corp boosted its stake in shares of Ameriprise Financial by 4.4% in the 3rd quarter. Hancock Whitney Corp now owns 2,704 shares of the financial services provider’s stock worth $1,270,000 after buying an additional 115 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Ameriprise Financial by 0.7% in the third quarter. Daiwa Securities Group Inc. now owns 12,081 shares of the financial services provider’s stock worth $5,676,000 after purchasing an additional 85 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Ameriprise Financial by 29.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 825 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 189 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Ameriprise Financial by 1.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 20,968 shares of the financial services provider’s stock valued at $9,851,000 after purchasing an additional 362 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Ameriprise Financial by 15.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,329 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $571.89 on Thursday. The business’s fifty day moving average is $516.92 and its 200 day moving average is $461.06. The firm has a market cap of $55.48 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.99 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $487.67.

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.