Ameriprise Financial, Inc. (NYSE:AMP) Stake Boosted by Somerset Trust Co

Somerset Trust Co increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 45.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 760 shares of the financial services provider’s stock after buying an additional 237 shares during the quarter. Somerset Trust Co’s holdings in Ameriprise Financial were worth $405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Czech National Bank increased its stake in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC increased its position in Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth about $458,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

NYSE AMP opened at $551.61 on Friday. Ameriprise Financial, Inc. has a twelve month low of $369.29 and a twelve month high of $577.00. The stock has a market cap of $53.51 billion, a PE ratio of 21.18, a PEG ratio of 0.78 and a beta of 1.36. The firm has a 50-day simple moving average of $548.42 and a 200 day simple moving average of $488.11. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is presently 22.73%.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Royal Bank of Canada increased their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley boosted their target price 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $494.89.

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.