FineMark National Bank & Trust Has $4 Million Stake in Ameriprise Financial, Inc. $AMP

FineMark National Bank & Trust lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% during the second quarter, Holdings Channel.com reports. The firm owned 7,497 shares of the financial services provider’s stock after acquiring an additional 475 shares during the period. FineMark National Bank & Trust’s holdings in Ameriprise Financial were worth $4,001,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its holdings in Ameriprise Financial by 4.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after buying an additional 667 shares during the last quarter. NorthRock Partners LLC boosted its stake in Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares during the last quarter. Ascent Group LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $371,000. Advisory Alpha LLC purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $265,000. Finally, Voya Investment Management LLC raised its position in Ameriprise Financial by 4.0% in the 1st quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock valued at $53,731,000 after buying an additional 4,232 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on AMP. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $533.22.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $449.67 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The stock’s 50-day simple moving average is $477.38 and its 200 day simple moving average is $501.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $41.78 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $9.02 EPS. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s payout ratio is presently 17.55%.

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.