Blueshift Asset Management LLC Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Blueshift Asset Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, Holdings Channel reports. The institutional investor acquired 2,025 shares of the financial services provider’s stock, valued at approximately $951,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BDF Gestion acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $2,836,000. Cetera Investment Advisers increased its position in Ameriprise Financial by 335.6% during the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after buying an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ameriprise Financial by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after buying an additional 5,692 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after buying an additional 45,420 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after acquiring an additional 1,329 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

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

Ameriprise Financial Stock Up 0.7 %

AMP opened at $574.12 on Wednesday. The company has a market capitalization of $55.70 billion, a P/E ratio of 22.04, a P/E/G 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. The firm’s fifty day moving average price is $514.51 and its two-hundred day moving average price is $460.28. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the firm’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 completion of the sale, 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 quarter, insiders have sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.96% of the company’s stock.

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.