Financial Counselors Inc. Purchases 2,149 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Counselors Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 124,291 shares of the financial services provider’s stock after buying an additional 2,149 shares during the quarter. Financial Counselors Inc.’s holdings in Ameriprise Financial were worth $58,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Ameriprise Financial by 33.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 1,062 shares during the last quarter. Tidal Investments LLC boosted its stake in Ameriprise Financial by 9.3% in the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock valued at $1,382,000 after acquiring an additional 268 shares during the last quarter. Hancock Whitney Corp grew its holdings in Ameriprise Financial by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 2,049 shares of the financial services provider’s stock worth $898,000 after acquiring an additional 49 shares during the period. iA Global Asset Management Inc. grew its holdings in Ameriprise Financial by 46.6% during the 1st quarter. iA Global Asset Management Inc. now owns 5,401 shares of the financial services provider’s stock worth $2,368,000 after acquiring an additional 1,717 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at $276,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction 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 $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 in the last quarter. 0.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMP has been the subject of a number of recent analyst reports. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Stock Performance

AMP opened at $571.89 on Thursday. 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 company has a market capitalization of $55.48 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 0.99 and a beta of 1.34. The business’s 50-day moving average price is $516.92 and its two-hundred day moving average price is $461.06. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio 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.