Brooklyn Investment Group Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Brooklyn Investment Group lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 933 shares of the financial services provider’s stock after buying an additional 65 shares during the period. Brooklyn Investment Group’s holdings in Ameriprise Financial were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DiNuzzo Private Wealth Inc. increased its position in Ameriprise Financial by 268.8% during the second 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 last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the second quarter worth about $26,000. Mascoma Wealth Management LLC increased its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Bank & Trust Co acquired a new stake in Ameriprise Financial during the second quarter worth about $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in Ameriprise Financial during the second quarter worth about $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research 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 research report on Thursday, October 17th. Finally, UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Stock Up 0.7 %

Shares of Ameriprise Financial stock opened at $574.12 on Wednesday. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $577.00. The company has a 50 day moving average of $514.51 and a 200 day moving average of $460.28. 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 company has a market capitalization of $55.70 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 over the last 90 days. 0.96% of the stock is owned by 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.