First County Bank CT Acquires 262 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

First County Bank CT increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 40.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 915 shares of the financial services provider’s stock after buying an additional 262 shares during the quarter. First County Bank CT’s holdings in Ameriprise Financial were worth $430,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Eagle Asset Management Inc. boosted its stake in Ameriprise Financial by 2.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock worth $4,803,000 after purchasing an additional 278 shares during the period. Smithfield Trust Co lifted its holdings in shares of Ameriprise Financial by 115.3% in the third quarter. Smithfield Trust Co now owns 1,729 shares of the financial services provider’s stock worth $812,000 after buying an additional 926 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Ameriprise Financial by 33.5% in the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after acquiring an additional 4,780 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Ameriprise Financial by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock valued at $106,838,000 after acquiring an additional 11,441 shares in the last quarter. Finally, Moran Wealth Management LLC increased its holdings in Ameriprise Financial by 39.5% during the 3rd quarter. Moran Wealth Management LLC now owns 77,935 shares of the financial services provider’s stock worth $36,615,000 after acquiring an additional 22,078 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group raised their price objective 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. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley boosted 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, October 17th. Finally, Keefe, Bruyette & Woods boosted 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $487.67.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the 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 completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock worth $15,829,445 over the last 90 days. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 1.9 %

NYSE AMP opened at $571.84 on Friday. The stock has a market capitalization of $55.47 billion, a PE ratio of 21.95, a PEG ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $573.44. The business’s 50-day moving average is $506.93 and its 200 day moving average is $456.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

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.