Private Trust Co. NA Increases Stock Position in Ameriprise Financial, Inc. $AMP

Private Trust Co. NA grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 24.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,137 shares of the financial services provider’s stock after purchasing an additional 224 shares during the period. Private Trust Co. NA’s holdings in Ameriprise Financial were worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $29,000. TD Capital Management LLC raised its holdings in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $33,000. Hager Investment Management Services LLC raised its holdings in shares of Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares during the last quarter. Finally, TCTC Holdings LLC increased its holdings in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Finally, Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Price Performance

AMP stock opened at $470.03 on Monday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market capitalization of $44.31 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $497.70 and a 200-day moving average of $501.60.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the business posted $8.72 earnings per share. Ameriprise Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is presently 19.91%.

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.