Ameriprise Financial, Inc. (NYSE:AMP) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,618 shares of the financial services provider’s stock after purchasing an additional 1,191 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ameriprise Financial were worth $8,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Group LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.1 %

Shares of AMP stock opened at $504.48 on Monday. Ameriprise Financial, Inc. has a 1 year low of $307.57 and a 1 year high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The business’s fifty day moving average is $467.23 and its 200-day moving average is $440.16. The stock has a market cap of $50.11 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMP. UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $482.11.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.73% of the stock is owned by company insiders.

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.