Highland Capital Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the 4th quarter, Holdings Channel reports. The firm acquired 2,416 shares of the financial services provider’s stock, valued at approximately $1,286,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC grew its stake in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after acquiring an additional 31,158 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Maj Invest Holding A S raised its stake in Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after acquiring an additional 141,927 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Ameriprise Financial by 3.8% during the third quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock valued at $116,603,000 after purchasing an additional 8,989 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Price Performance
Ameriprise Financial stock opened at $547.95 on Friday. Ameriprise Financial, Inc. has a 52-week low of $378.05 and a 52-week high of $582.05. The company has a market cap of $53.16 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.85 and a beta of 1.36. The firm’s fifty day moving average is $548.61 and its 200 day moving average is $496.50. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AMP. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley upped their price target 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. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $503.22.
View Our Latest Stock Analysis on Ameriprise Financial
Insider Activity at Ameriprise Financial
In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.
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.
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