Cambridge Trust Co. Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cambridge Trust Co. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,571 shares of the financial services provider’s stock after selling 163 shares during the quarter. Cambridge Trust Co.’s holdings in Ameriprise Financial were worth $489,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $35,000. Vigilant Capital Management LLC increased its position in shares of Ameriprise Financial by 120.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 141 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Ameriprise Financial by 106.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 65 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $43,000. Finally, Coston McIsaac & Partners purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $44,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value of $127,358.30. Following the sale, the insider now owns 875 shares of the company’s stock, valued at approximately $271,801.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 11,483 shares of the firm’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $347.69, for a total value of $3,992,524.27. Following the sale, the chief executive officer now owns 16,262 shares of the company’s stock, valued at approximately $5,654,134.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the completion of the sale, the insider now directly owns 875 shares in the company, valued at approximately $271,801.25. The disclosure for this sale can be found here. Insiders sold a total of 75,738 shares of company stock worth $26,606,004 in the last quarter. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $350.00 to $375.00 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. Credit Suisse Group increased their price target on Ameriprise Financial from $382.00 to $401.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. StockNews.com assumed coverage on Ameriprise Financial in a research note on Thursday. They set a “hold” rating for the company. The Goldman Sachs Group increased their price target on Ameriprise Financial from $290.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 23rd. Finally, Argus increased their price target on Ameriprise Financial from $340.00 to $392.00 in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average target price of $347.18.

Ameriprise Financial Stock Down 2.3 %

Shares of NYSE AMP opened at $281.43 on Friday. Ameriprise Financial, Inc. has a 52 week low of $219.99 and a 52 week high of $357.46. The business has a 50-day simple moving average of $335.26 and a two-hundred day simple moving average of $310.37. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. The company has a market cap of $29.95 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.51 and a beta of 1.49.

Ameriprise Financial (NYSE:AMP – Get Rating) last issued its earnings results on Thursday, January 26th. The financial services provider reported $6.94 EPS for the quarter, topping the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the company earned $6.15 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial, Inc. will post 30.69 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 annualized dividend and a yield of 1.78%. Ameriprise Financial’s dividend payout ratio is currently 22.27%.

Ameriprise Financial Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.