Oddo BHF Asset Management Sas Invests $1.70 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Oddo BHF Asset Management Sas bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,625 shares of the financial services provider’s stock, valued at approximately $1,703,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Geode Capital Management LLC raised its holdings in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after acquiring an additional 31,158 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after purchasing an additional 11,060 shares during the last quarter. AGF Management Ltd. lifted its position in Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after buying an additional 131,844 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after buying an additional 17,312 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.4 %

Shares of NYSE AMP opened at $549.79 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $538.41 and its two-hundred day moving average is $471.16. Ameriprise Financial, Inc. has a 52-week low of $368.41 and a 52-week high of $577.00. The firm has a market cap of $53.34 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMP shares. Morgan Stanley raised their target price 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. UBS Group raised their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $487.67.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on 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. This represents a 57.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock valued at $11,983,436. Corporate insiders own 0.73% 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.