JPMorgan Chase & Co. Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,285,476 shares of the financial services provider’s stock after buying an additional 358,699 shares during the period. JPMorgan Chase & Co.’s holdings in Ameriprise Financial were worth $2,013,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial during the third quarter worth approximately $98,742,000. The Manufacturers Life Insurance Company boosted its stake in 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 valued at $114,345,000 after acquiring an additional 143,648 shares during the last quarter. AGF Management Ltd. grew its holdings in Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ameriprise Financial by 10.8% during 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 in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction 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 transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $542.39 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. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00. The firm has a fifty day moving average of $544.84 and a 200-day moving average of $477.84. The company has a market cap of $52.62 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 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.