Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Smithfield Trust Co

Smithfield Trust Co increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 115.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the financial services provider's stock after purchasing an additional 926 shares during the quarter. Smithfield Trust Co's holdings in Ameriprise Financial were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial during the 2nd quarter valued at approximately $26,000. Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company'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 directly owns 13,199 shares of the company's stock, valued at $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,415 shares of company stock valued at $15,829,445. Insiders own 0.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price objective 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. Keefe, Bruyette & Woods boosted 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 note on Tuesday, October 29th. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $487.67.

Ameriprise Financial Stock Up 0.3 %

AMP traded up $1.86 during trading hours on Friday, reaching $572.07. 496,458 shares of the stock traded hands, compared to its average volume of 469,898. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $575.37. The company has a market cap of $55.50 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm's fifty day simple moving average is $509.57 and its two-hundred day simple moving average is $457.84.

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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio (DPR) is 22.73%.

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.