Massachusetts Financial Services Co. MA Has $106.84 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Massachusetts Financial Services Co. MA boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 227,406 shares of the financial services provider’s stock after acquiring an additional 11,441 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ameriprise Financial were worth $106,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of AMP. CreativeOne Wealth LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $301,000. Advisors Asset Management Inc. grew its holdings in Ameriprise Financial by 29.9% in the 1st quarter. Advisors Asset Management Inc. now owns 1,585 shares of the financial services provider’s stock valued at $695,000 after buying an additional 365 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Ameriprise Financial by 3.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,460 shares of the financial services provider’s stock valued at $1,956,000 after buying an additional 166 shares during the last quarter. SVB Wealth LLC increased its position in Ameriprise Financial by 2.4% in the 1st quarter. SVB Wealth LLC now owns 8,662 shares of the financial services provider’s stock worth $3,798,000 after buying an additional 201 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Ameriprise Financial during the first quarter worth approximately $1,195,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $572.07 on Friday. The business has a 50 day simple moving average of $509.57 and a 200 day simple moving average of $458.07. Ameriprise Financial, Inc. has a one year low of $345.43 and a one year high of $575.37. The company has a market capitalization of $55.50 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. 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 Announces Dividend

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

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the business’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 transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 in the last quarter. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group upped their price objective 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. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $487.67.

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.