Trust Co. of Vermont Takes $1.43 Million Position in Ameriprise Financial, Inc. $AMP

Trust Co. of Vermont purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,108 shares of the financial services provider’s stock, valued at approximately $1,426,000.

A number of other hedge funds have also bought and sold shares of AMP. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Ameriprise Financial during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares in the company, valued at $3,656,793. The trade was a 54.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. BMO Capital Markets boosted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Up 0.2%

AMP stock opened at $562.89 on Wednesday. The firm has a 50-day moving average price of $511.57 and a 200-day moving average price of $481.04. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $50.60 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $9.11 EPS. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.