Trust Co. of Vermont Invests $1.43 Million in Ameriprise Financial, Inc. $AMP

Trust Co. of Vermont purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,108 shares of the financial services provider’s stock, valued at approximately $1,426,000.

A number of other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after buying an additional 10,782 shares during the last quarter. National Pension Service grew its holdings in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after acquiring an additional 12,563 shares in the last quarter. LSV Asset Management grew its stake in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in Ameriprise Financial during the fourth quarter worth about $72,050,000. Finally, D.A. Davidson & CO. increased its stake in shares of Ameriprise Financial by 116.5% during the 4th quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock worth $6,561,000 after purchasing an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $562.89 on Wednesday. The stock’s 50-day moving average is $511.57 and its 200 day moving average is $481.04. The stock has a market cap of $50.60 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 0.77 and a beta of 1.14. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.11 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent research reports. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.