Ameriprise Financial, Inc. $AMP Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,348 shares of the financial services provider’s stock after purchasing an additional 116 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Ameriprise Financial were worth $2,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. TD Capital Management LLC increased its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $29,000. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $36,000. Finally, TCTC Holdings LLC increased its stake in shares of Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday. They set a “market perform” rating and a $525.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $535.14.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Ameriprise Financial stock opened at $491.67 on Friday. 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 firm has a market cap of $46.35 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The firm’s 50 day moving average price is $502.93 and its two-hundred day moving average price is $502.10.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.72 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

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.