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

Plimoth Trust Co. LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 945 shares of the financial services provider’s stock after selling 220 shares during the period. Plimoth Trust Co. LLC’s holdings in Ameriprise Financial were worth $444,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Finance LLC boosted its stake in shares of Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 113 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of 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 purchasing an additional 8,693 shares during the period. BDF Gestion acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $2,836,000. Janney Montgomery Scott LLC boosted its holdings in shares of 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 worth $8,242,000 after buying an additional 2,139 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $570,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMP shares. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada upped their target price on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Price Performance

Ameriprise Financial stock traded down $0.52 during mid-day trading on Monday, reaching $522.64. The company had a trading volume of 360,414 shares, compared to its average volume of 471,382. The business has a fifty day simple moving average of $457.59 and a 200 day simple moving average of $437.23. The company has a market cap of $51.91 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $7.44 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Insiders Place Their Bets

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.