Private Advisor Group LLC Acquires 612 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Private Advisor Group LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,417 shares of the financial services provider’s stock after acquiring an additional 612 shares during the period. Private Advisor Group LLC’s holdings in Ameriprise Financial were worth $3,015,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Retirement Group LLC acquired a new stake in Ameriprise Financial in the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC lifted its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the company’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 sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group increased their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $482.11.

Ameriprise Financial Stock Up 1.7 %

AMP opened at $513.30 on Tuesday. The company has a market capitalization of $50.98 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm’s fifty day moving average price is $468.79 and its two-hundred day moving average price is $440.80. Ameriprise Financial, Inc. has a fifty-two week low of $311.11 and a fifty-two week high of $524.89.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $1.48 dividend. 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 payout ratio is currently 20.15%.

Ameriprise Financial 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.