TrinityPoint Wealth LLC Buys 129 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

TrinityPoint Wealth LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,023 shares of the financial services provider’s stock after acquiring an additional 129 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Ameriprise Financial were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BDF Gestion bought a new position in shares of Ameriprise Financial during the second quarter worth about $2,836,000. Capital World Investors increased its holdings in Ameriprise Financial by 95.0% in the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after purchasing an additional 32,930 shares in the last quarter. Cetera Investment Advisers increased its holdings in Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after purchasing an additional 26,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Ameriprise Financial by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada raised their price objective 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 raised 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. Finally, UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling

In other news, insider Gumer Alvero sold 2,325 shares of the firm’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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock worth $15,829,445 in the last 90 days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.5 %

Shares of NYSE:AMP opened at $565.15 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $343.98 and a 52-week high of $569.47. The firm has a market capitalization of $54.83 billion, a P/E ratio of 21.69, a P/E/G ratio of 0.98 and a beta of 1.34. The stock has a 50 day moving average price of $499.13 and a 200-day moving average price of $454.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s 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.