Kennebec Savings Bank Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Kennebec Savings Bank purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,066 shares of the financial services provider's stock, valued at approximately $1,910,000. Ameriprise Financial accounts for approximately 1.9% of Kennebec Savings Bank's portfolio, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Ashton Thomas Securities LLC purchased a new stake in Ameriprise Financial during the 3rd quarter worth approximately $107,000. Los Angeles Capital Management LLC grew its holdings in shares of Ameriprise Financial by 4,961.1% during the third quarter. Los Angeles Capital Management LLC now owns 32,239 shares of the financial services provider's stock worth $15,146,000 after buying an additional 31,602 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its position in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock valued at $480,000 after buying an additional 20 shares during the last quarter. Field & Main Bank lifted its stake in shares of Ameriprise Financial by 10.9% in the third quarter. Field & Main Bank now owns 305 shares of the financial services provider's stock worth $143,000 after buying an additional 30 shares in the last quarter. Finally, Kerusso Capital Management LLC grew its stake in Ameriprise Financial by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 12,996 shares of the financial services provider's stock valued at $6,106,000 after acquiring an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $12.01 during trading on Monday, reaching $564.00. The company had a trading volume of 325,871 shares, compared to its average volume of 433,890. Ameriprise Financial, Inc. has a fifty-two week low of $333.96 and a fifty-two week high of $569.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.59. The stock's fifty day moving average price is $484.45 and its 200 day moving average price is $447.96. The firm has a market capitalization of $54.71 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial's payout ratio is 22.73%.

Analysts Set New Price Targets

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

Insider Activity

In other 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 owns 13,199 shares in the company, valued at $5,834,881.93. 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, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction 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 owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

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.