Smithfield Trust Co Has $812,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Smithfield Trust Co lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 115.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,729 shares of the financial services provider’s stock after buying an additional 926 shares during the quarter. Smithfield Trust Co’s holdings in Ameriprise Financial were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMP. Pacer Advisors Inc. raised its stake in Ameriprise Financial by 33.5% in the 3rd quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock worth $8,958,000 after purchasing an additional 4,780 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Ameriprise Financial by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock worth $106,838,000 after purchasing an additional 11,441 shares during the period. Moran Wealth Management LLC raised its position in shares of Ameriprise Financial by 39.5% in the third quarter. Moran Wealth Management LLC now owns 77,935 shares of the financial services provider’s stock valued at $36,615,000 after buying an additional 22,078 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $208,000. Finally, Bellwether Advisors LLC acquired a new stake in Ameriprise Financial during the third quarter worth approximately $6,878,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

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

Ameriprise Financial Stock Performance

NYSE AMP opened at $571.84 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $573.44. The stock has a market cap of $55.47 billion, a PE ratio of 21.95, a PEG ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s fifty day moving average price is $506.93 and its two-hundred day moving average price is $456.82.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.04%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price target 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 downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $487.67.

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.