Edgestream Partners L.P. Invests $4.79 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Edgestream Partners L.P. purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,187 shares of the financial services provider’s stock, valued at approximately $4,786,000.

A number of other large investors have also recently made changes to their positions in AMP. Tidal Investments LLC grew its stake in shares of Ameriprise Financial by 9.3% in the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock worth $1,382,000 after acquiring an additional 268 shares during the period. Cetera Investment Advisers grew its stake in shares of Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after acquiring an additional 26,442 shares during the period. Cetera Advisors LLC grew its stake in shares of Ameriprise Financial by 55.6% in the first quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider’s stock worth $4,779,000 after acquiring an additional 3,895 shares during the period. Transcend Capital Advisors LLC grew its stake in shares of Ameriprise Financial by 6.9% in the second quarter. Transcend Capital Advisors LLC now owns 1,716 shares of the financial services provider’s stock worth $733,000 after acquiring an additional 111 shares during the period. Finally, Marcum Wealth LLC grew its stake in shares of Ameriprise Financial by 7.4% in the second quarter. Marcum Wealth LLC now owns 565 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 39 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $573.97 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $347.74 and a 1-year high of $577.00. The company has a market capitalization of $55.68 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.00 and a beta of 1.34. The firm’s 50 day simple moving average is $521.35 and its two-hundred day simple moving average is $463.00.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMP shares. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered 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 report on Thursday, September 26th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $487.67.

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.