Arthur M. Cohen & Associates LLC Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Arthur M. Cohen & Associates LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,140 shares of the financial services provider’s stock after buying an additional 35 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Ameriprise Financial were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. Mercer Global Advisors Inc. ADV lifted its position in shares of Ameriprise Financial by 36.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 26,805 shares of the financial services provider’s stock valued at $11,451,000 after purchasing an additional 7,156 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Ameriprise Financial by 4.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,263 shares of the financial services provider’s stock valued at $1,394,000 after buying an additional 124 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Ameriprise Financial by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 15,573 shares of the financial services provider’s stock worth $6,653,000 after buying an additional 617 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Ameriprise Financial by 13.9% during the 2nd quarter. Brighton Jones LLC now owns 771 shares of the financial services provider’s stock worth $329,000 after buying an additional 94 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Ameriprise Financial by 5.8% in the 2nd quarter. Ieq Capital LLC now owns 7,579 shares of the financial services provider’s stock worth $3,238,000 after buying an additional 416 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $551.61 on Friday. The firm’s 50 day moving average is $548.42 and its 200 day moving average is $488.11. The stock has a market capitalization of $53.51 billion, a P/E ratio of 21.18, a PEG ratio of 0.78 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $369.29 and a 12 month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated 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 represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $494.89.

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.