Passumpsic Savings Bank Invests $211,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Passumpsic Savings Bank purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 450 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Unigestion Holding SA boosted its position in shares of Ameriprise Financial by 80.0% in the 3rd quarter. Unigestion Holding SA now owns 4,436 shares of the financial services provider’s stock worth $2,084,000 after buying an additional 1,971 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Ameriprise Financial by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,009 shares of the financial services provider’s stock valued at $1,899,000 after purchasing an additional 249 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ameriprise Financial by 1.2% in 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 purchasing an additional 31,158 shares in the last quarter. Vestcor Inc lifted its holdings in Ameriprise Financial by 67.8% in the 3rd quarter. Vestcor Inc now owns 5,667 shares of the financial services provider’s stock valued at $2,662,000 after purchasing an additional 2,289 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in Ameriprise Financial by 10.4% in the 3rd quarter. LRI Investments LLC now owns 713 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 67 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $548.15 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $365.44 and a 1-year high of $577.00. The stock has a market capitalization of $53.18 billion, a P/E ratio of 20.97, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $532.92 and its 200 day moving average price is $468.55.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio is 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $487.67.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 in the last three months. 0.73% of the stock is owned by insiders.

Ameriprise Financial 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.