First County Bank CT Acquires 262 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

First County Bank CT raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 40.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 915 shares of the financial services provider’s stock after purchasing an additional 262 shares during the period. First County Bank CT’s holdings in Ameriprise Financial were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. boosted its stake in shares of Ameriprise Financial by 2.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock valued at $4,803,000 after purchasing an additional 278 shares during the last quarter. Smithfield Trust Co raised its stake in Ameriprise Financial by 115.3% during the third quarter. Smithfield Trust Co now owns 1,729 shares of the financial services provider’s stock worth $812,000 after buying an additional 926 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Ameriprise Financial by 33.5% in the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after buying an additional 4,780 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Ameriprise Financial by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock valued at $106,838,000 after acquiring an additional 11,441 shares during the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of Ameriprise Financial by 39.5% in the 3rd quarter. Moran Wealth Management LLC now owns 77,935 shares of the financial services provider’s stock worth $36,615,000 after acquiring an additional 22,078 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $571.84 on Friday. Ameriprise Financial, Inc. has a 52 week low of $345.43 and a 52 week 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. The business has a 50 day moving average price of $506.93 and a 200-day moving average price of $456.82. The company has a market cap of $55.47 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently declared 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. This represents a $5.92 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 13,199 shares of the company’s stock, 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. In the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.73% of the company’s stock.

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.