Kelly Financial Services LLC Purchases 40 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kelly Financial Services LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614 shares of the financial services provider’s stock after buying an additional 40 shares during the period. Kelly Financial Services LLC’s holdings in Ameriprise Financial were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMP. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $31,000. Country Trust Bank grew its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the period. Peterson Financial Group Inc. bought a new stake in Ameriprise Financial during the third quarter valued at approximately $45,000. Friedenthal Financial purchased a new stake in Ameriprise Financial during the fourth quarter valued at approximately $58,000. Finally, Trifecta Capital Advisors LLC lifted its position in Ameriprise Financial by 31.4% during the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AMP shares. Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $551.61 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $53.51 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $369.29 and a 52-week high of $577.00. The firm’s fifty day moving average is $548.42 and its two-hundred day moving average is $488.98.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last three months. Insiders own 0.96% of the company’s stock.

Ameriprise Financial 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.