Grove Bank & Trust Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Grove Bank & Trust trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 52.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 773 shares of the financial services provider’s stock after selling 842 shares during the period. Grove Bank & Trust’s holdings in Ameriprise Financial were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. Empirical Finance LLC increased its holdings in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $775,000. State Board of Administration of Florida Retirement System boosted its stake in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 8,693 shares during the period. BDF Gestion acquired a new position in Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Finally, Janney Montgomery Scott LLC boosted its stake in Ameriprise Financial by 12.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 0.4 %

Ameriprise Financial stock opened at $504.53 on Tuesday. The business’s 50-day simple moving average is $448.00 and its 200-day simple moving average is $434.91. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $504.82. The firm has a market capitalization of $50.11 billion, a PE ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its earnings results 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 return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm posted $7.44 EPS. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley lowered their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. One equities 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 stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $473.56.

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.