Plimoth Trust Co. LLC Sells 220 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Plimoth Trust Co. LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 945 shares of the financial services provider’s stock after selling 220 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Ameriprise Financial were worth $444,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMP. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Legal & General Group Plc grew its holdings in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the period. TD Asset Management Inc increased its stake in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after purchasing an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in shares of 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 purchasing an additional 131,844 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.1 %

Shares of NYSE AMP traded down $0.52 during trading on Monday, hitting $522.64. The stock had a trading volume of 360,414 shares, compared to its average volume of 471,382. The firm has a fifty day moving average of $457.59 and a two-hundred day moving average of $437.23. The company has a market capitalization of $51.91 billion, a PE ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $524.89.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm posted $7.44 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.13%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analyst Ratings Changes

Several analysts have recently commented on AMP shares. 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. Royal Bank of Canada raised their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $480.44.

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.