Orrstown Financial Services Inc. Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Orrstown Financial Services Inc. acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 428 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors have also recently bought and sold shares of the business. Old Port Advisors raised its holdings in Ameriprise Financial by 2.7% during the third quarter. Old Port Advisors now owns 1,351 shares of the financial services provider’s stock worth $635,000 after buying an additional 35 shares during the last quarter. TCI Wealth Advisors Inc. acquired a new position in Ameriprise Financial during the third quarter worth $220,000. Cavalier Investments LLC raised its holdings in Ameriprise Financial by 5.6% during the third quarter. Cavalier Investments LLC now owns 2,617 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 138 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Ameriprise Financial by 1.2% during the third quarter. State of Alaska Department of Revenue now owns 52,369 shares of the financial services provider’s stock worth $24,603,000 after buying an additional 600 shares during the last quarter. Finally, Mcrae Capital Management Inc. raised its holdings in Ameriprise Financial by 70.9% during the third quarter. Mcrae Capital Management Inc. now owns 1,085 shares of the financial services provider’s stock worth $510,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $516.31 on Wednesday. The firm has a market cap of $51.28 billion, a P/E ratio of 17.57, a PEG ratio of 0.81 and a beta of 1.35. The firm has a 50-day moving average of $470.44 and a 200 day moving average of $441.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $311.11 and a fifty-two week high of $524.89.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.15%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Ameriprise Financial 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 completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade 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 is available through this link. Company insiders own 0.73% of the company’s stock.

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.