First County Bank CT Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

First County Bank CT lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 875 shares of the financial services provider’s stock after selling 40 shares during the period. First County Bank CT’s holdings in Ameriprise Financial were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC raised its stake in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after buying an additional 31,158 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares during the period. Legal & General Group Plc grew its holdings in Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares during the period. Finally, AGF Management Ltd. raised its position in Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a report on Monday. Morgan Stanley raised 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. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $489.33.

Ameriprise Financial Trading Down 0.3 %

Shares of NYSE AMP traded down $1.51 during midday trading on Tuesday, reaching $529.30. 206,705 shares of the stock were exchanged, compared to its average volume of 335,564. Ameriprise Financial, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $51.35 billion, a P/E ratio of 20.32, a PEG ratio of 0.96 and a beta of 1.36. The company has a 50 day simple moving average of $547.26 and a 200 day simple moving average of $483.50.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is presently 22.73%.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by company insiders.

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.