CENTRAL TRUST Co Has $1.69 Million Holdings in Ameriprise Financial, Inc. $AMP

CENTRAL TRUST Co decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,159 shares of the financial services provider’s stock after selling 305 shares during the period. CENTRAL TRUST Co’s holdings in Ameriprise Financial were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ibex Wealth Advisors acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $608,000. Vise Technologies Inc. bought a new position in Ameriprise Financial during the 2nd quarter worth $5,740,000. Allworth Financial LP lifted its holdings in shares of Ameriprise Financial by 1.3% during the second quarter. Allworth Financial LP now owns 4,524 shares of the financial services provider’s stock worth $2,415,000 after buying an additional 56 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Ameriprise Financial by 40.2% in the second quarter. Illinois Municipal Retirement Fund now owns 14,749 shares of the financial services provider’s stock valued at $7,872,000 after acquiring an additional 4,228 shares during the period. Finally, Zions Bancorporation National Association UT boosted its position in shares of Ameriprise Financial by 123.0% in the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 123 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada reduced their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Finally, BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $530.63.

Ameriprise Financial Stock Up 1.2%

Shares of NYSE:AMP opened at $470.38 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a fifty day moving average of $481.97 and a 200-day moving average of $502.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $43.70 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $9.02 earnings per share. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

Ameriprise Financial 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.