Smithfield Trust Co Acquires 926 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Smithfield Trust Co grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 115.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,729 shares of the financial services provider’s stock after purchasing an additional 926 shares during the period. Smithfield Trust Co’s holdings in Ameriprise Financial were worth $812,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. raised its position in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $26,000. Mascoma Wealth Management LLC lifted its position in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co purchased a new position in Ameriprise Financial during the second quarter worth about $29,000. Finally, Hantz Financial Services Inc. bought a new stake in Ameriprise Financial in the 2nd quarter worth about $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $571.84 on Friday. The company’s 50 day moving average is $506.93 and its 200-day moving average is $456.82. The firm has a market cap of $55.47 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $573.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.04%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $487.67.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Davies sold 8,700 shares of the company’s 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock worth $15,829,445 in the last quarter. 0.73% of the stock is owned by company insiders.

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.