Synovus Financial Corp Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Synovus Financial Corp grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 2,812 shares of the financial services provider’s stock after purchasing an additional 38 shares during the quarter. Synovus Financial Corp’s holdings in Ameriprise Financial were worth $1,321,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. increased its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial during the 2nd quarter valued at $29,000. Oakworth Capital Inc. bought a new stake in Ameriprise Financial in the 3rd quarter worth $31,000. Finally, Country Trust Bank increased its position in shares of Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of Ameriprise Financial stock opened at $550.12 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00. The firm has a market cap of $53.37 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.96 and a beta of 1.34. The company has a 50-day moving average of $539.80 and a 200 day moving average of $472.56. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Ameriprise Financial’s payout ratio is 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted 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. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $487.67.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale 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 stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

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.