Ledyard National Bank Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ledyard National Bank boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 733 shares of the financial services provider’s stock after buying an additional 23 shares during the quarter. Ledyard National Bank’s holdings in Ameriprise Financial were worth $344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. lifted its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC lifted its stake in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. UBS Group upped their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $480.44.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.6 %

Shares of AMP stock opened at $519.39 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $51.59 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a 50-day moving average of $462.17 and a two-hundred day moving average of $438.49. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $524.89.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.44 earnings per share. On average, analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

About Ameriprise Financial

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.