GenTrust LLC Invests $226,000 in Ameriprise Financial, Inc. (NYSE:AMP)

GenTrust LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 480 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of the company. Raymond James Trust N.A. raised its holdings in shares of Ameriprise Financial by 6.4% in the 3rd quarter. Raymond James Trust N.A. now owns 10,016 shares of the financial services provider’s stock worth $4,706,000 after purchasing an additional 606 shares during the period. First County Bank CT grew its stake in shares of Ameriprise Financial by 40.1% in the third quarter. First County Bank CT now owns 915 shares of the financial services provider’s stock valued at $430,000 after buying an additional 262 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Ameriprise Financial by 2.8% in the third quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock valued at $4,803,000 after buying an additional 278 shares in the last quarter. Smithfield Trust Co grew its stake in shares of Ameriprise Financial by 115.3% in the third quarter. Smithfield Trust Co now owns 1,729 shares of the financial services provider’s stock valued at $812,000 after buying an additional 926 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Ameriprise Financial by 33.5% in the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after buying an additional 4,780 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMP. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $487.67.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $572.07 on Friday. The firm has a market cap of $55.50 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. The business has a 50 day moving average price of $509.57 and a two-hundred day moving average price of $458.07. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $575.37.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s payout ratio is 22.73%.

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.