Penobscot Investment Management Company Inc. Sells 85 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Penobscot Investment Management Company Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,577 shares of the financial services provider’s stock after selling 85 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Ameriprise Financial were worth $979,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its position in Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after purchasing an additional 136,621 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 134.4% in the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock worth $68,761,000 after acquiring an additional 119,578 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 107.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock valued at $69,174,000 after acquiring an additional 108,461 shares during the period. Payden & Rygel Investment Group purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $28,382,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Ameriprise Financial by 398.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock worth $33,001,000 after purchasing an additional 80,020 shares during the period. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 74,326 shares of company stock valued at $29,775,593 over the last 90 days. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AMP. Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Royal Bank of Canada raised their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Evercore ISI boosted their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $411.79 on Wednesday. The stock has a market cap of $41.26 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.70 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $419.32 and a 200 day simple moving average of $382.75. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm posted $7.25 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

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.