108 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Friedenthal Financial

Friedenthal Financial bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108 shares of the financial services provider’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $98,742,000. The Manufacturers Life Insurance Company grew its stake in shares of Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after acquiring an additional 143,648 shares during the period. Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth about $456,890,000. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction 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 $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $2.79 on Monday, hitting $518.27. The company’s stock had a trading volume of 421,363 shares, compared to its average volume of 391,434. The company has a market capitalization of $50.28 billion, a PE ratio of 19.90, a PEG ratio of 0.96 and a beta of 1.36. 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 50-day simple moving average of $548.56 and a 200 day simple moving average of $486.03. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00.

Ameriprise Financial Dividend Announcement

The business also recently declared 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 was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio is presently 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.