Eagle Asset Management Inc. Raises Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Eagle Asset Management Inc. increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,224 shares of the financial services provider’s stock after acquiring an additional 278 shares during the quarter. Eagle Asset Management Inc.’s holdings in Ameriprise Financial were worth $4,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smithfield Trust Co grew its holdings in shares of Ameriprise Financial by 115.3% during the third quarter. Smithfield Trust Co now owns 1,729 shares of the financial services provider’s stock worth $812,000 after buying an additional 926 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Ameriprise Financial by 33.5% during the 3rd quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after acquiring an additional 4,780 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Ameriprise Financial by 5.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock valued at $106,838,000 after acquiring an additional 11,441 shares during the last quarter. Moran Wealth Management LLC lifted its position in Ameriprise Financial by 39.5% in the third quarter. Moran Wealth Management LLC now owns 77,935 shares of the financial services provider’s stock valued at $36,615,000 after buying an additional 22,078 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new position in Ameriprise Financial in the third quarter valued at about $208,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company 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 dropped their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six 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.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock worth $15,829,445 in the last three months. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $572.07 on Monday. The firm’s fifty day moving average price is $509.57 and its 200 day moving average price is $458.30. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $575.37. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $55.50 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.