Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Equitable Trust Co.

Equitable Trust Co. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,036 shares of the financial services provider's stock after selling 1,592 shares during the period. Equitable Trust Co.'s holdings in Ameriprise Financial were worth $6,124,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMP. Norden Group LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth $274,000. Geneos Wealth Management Inc. lifted its holdings in Ameriprise Financial by 57.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 137 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 50 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth about $1,713,000. Empowered Funds LLC grew its holdings in shares of Ameriprise Financial by 13.7% during the first quarter. Empowered Funds LLC now owns 3,621 shares of the financial services provider's stock worth $1,588,000 after buying an additional 436 shares in the last quarter. Finally, Forsta AP Fonden raised its position in shares of Ameriprise Financial by 1.9% in the first quarter. Forsta AP Fonden now owns 36,800 shares of the financial services provider's stock valued at $16,135,000 after buying an additional 700 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Davies sold 8,700 shares of the company'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 $5,834,881.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMP shares. UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $487.67.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $4.38 during midday trading on Friday, hitting $551.99. The company's stock had a trading volume of 384,119 shares, compared to its average volume of 423,227. The firm has a market cap of $53.55 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 1-year low of $330.51 and a 1-year high of $569.47. The firm's fifty day moving average price is $484.45 and its 200-day moving average price is $447.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial's dividend payout ratio is currently 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.