Legacy Private Trust Co. Sells 700 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Legacy Private Trust Co. trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,267 shares of the financial services provider’s stock after selling 700 shares during the period. Legacy Private Trust Co.’s holdings in Ameriprise Financial were worth $6,732,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Radnor Capital Management LLC acquired a new stake in Ameriprise Financial in the 2nd quarter valued at approximately $1,482,000. Fulton Bank N.A. raised its holdings in shares of Ameriprise Financial by 7.8% in the second quarter. Fulton Bank N.A. now owns 11,045 shares of the financial services provider’s stock valued at $3,669,000 after purchasing an additional 795 shares during the last quarter. Berkshire Asset Management LLC PA acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $279,000. EP Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $439,000. Finally, Level Four Advisory Services LLC bought a new position in Ameriprise Financial in the first quarter valued at $223,000. 82.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com started coverage on shares of Ameriprise Financial in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada upped their target price on Ameriprise Financial from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $350.00 to $360.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $361.00.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $0.03 during mid-day trading on Friday, hitting $349.83. The stock had a trading volume of 152,053 shares, compared to its average volume of 542,166. Ameriprise Financial, Inc. has a twelve month low of $249.35 and a twelve month high of $358.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $35.90 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.66 and a beta of 1.48. The company’s 50 day simple moving average is $342.79 and its 200 day simple moving average is $321.00.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $7.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.29 by $0.15. Ameriprise Financial had a return on equity of 82.23% and a net margin of 15.94%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the company earned $5.81 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 29.94 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.54%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, August 4th. Ameriprise Financial’s payout ratio is 25.36%.

Ameriprise Financial declared that its board has approved a share buyback program on Wednesday, July 26th that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,042 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $351.55, for a total value of $4,584,915.10. Following the transaction, the chief financial officer now directly owns 8,048 shares of the company’s stock, valued at approximately $2,829,274.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,042 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $351.55, for a total transaction of $4,584,915.10. Following the transaction, the chief financial officer now owns 8,048 shares in the company, valued at approximately $2,829,274.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James M. Cracchiolo sold 9,616 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $354.00, for a total transaction of $3,404,064.00. Following the completion of the sale, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at approximately $55,614,462. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc, through 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.