Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the 3rd quarter, HoldingsChannel reports. The firm bought 1,077,058 shares of the financial services provider’s stock, valued at approximately $530,290,000. Ameriprise Financial makes up 2.6% of Fort Washington Investment Advisors Inc. OH’s portfolio, making the stock its 9th largest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rexford Capital Inc. boosted its holdings in Ameriprise Financial by 19.5% in the 1st quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 24 shares during the period. North Dakota State Investment Board grew its position in Ameriprise Financial by 0.9% in the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 24 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Ameriprise Financial by 2.8% in the second quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 24 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Ameriprise Financial by 0.4% during the second quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider’s stock valued at $3,068,000 after purchasing an additional 25 shares during the period. Finally, Revolve Wealth Partners LLC raised its stake in shares of Ameriprise Financial by 5.0% during the second quarter. Revolve Wealth Partners LLC now owns 529 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 25 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Trading Up 0.6%
AMP opened at $496.19 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $44.61 billion, a PE ratio of 11.97, a P/E/G ratio of 1.01 and a beta of 1.16. The firm’s fifty day moving average price is $535.87 and its 200 day moving average price is $496.87.
Ameriprise Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.
Ameriprise Financial declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
AMP has been the topic of a number of recent research reports. Argus boosted their target price on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group decreased their target price on shares of Ameriprise Financial from $645.00 to $638.00 in a research note on Monday. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. Finally, BMO Capital Markets dropped their price target on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $572.55.
Read Our Latest Stock Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In related news, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.
Ameriprise Financial Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.
Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.
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