Legacy Private Trust Co. Has $7.59 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Legacy Private Trust Co. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the fourth quarter, HoldingsChannel reports. The fund owned 14,248 shares of the financial services provider’s stock after selling 422 shares during the period. Legacy Private Trust Co.’s holdings in Ameriprise Financial were worth $7,586,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Geode Capital Management LLC lifted its position in Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after acquiring an additional 11,060 shares in the last quarter. Finally, AGF Management Ltd. increased its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the 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 sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP traded up $5.52 during trading on Wednesday, hitting $534.35. The stock had a trading volume of 539,957 shares, compared to its average volume of 411,779. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $51.84 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 0.96 and a beta of 1.36. The company has a 50 day moving average price of $547.49 and a 200-day moving average price of $484.11. Ameriprise Financial, Inc. has a one year low of $368.41 and a one year high of $577.00.

Ameriprise Financial Announces Dividend

The firm 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 1.11%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMP shares. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $489.33.

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.