Pensionfund Sabic Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Pensionfund Sabic lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,700 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. Pensionfund Sabic’s holdings in Ameriprise Financial were worth $1,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AMP. Bridgewater Associates LP lifted its position in shares of Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC raised its stake in Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 1,867 shares in the last quarter. Aljian Capital Management LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock valued at $8,725,000 after purchasing an additional 1,191 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have 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 report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price target on 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 downgraded 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 research note on Thursday, September 26th. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $489.33.

Ameriprise Financial Trading Up 0.5 %

Shares of NYSE AMP traded up $2.65 during midday trading on Monday, reaching $538.49. 40,829 shares of the stock were exchanged, compared to its average volume of 272,440. The stock has a 50 day moving average price of $546.91 and a 200-day moving average price of $482.88. Ameriprise Financial, Inc. has a 52-week low of $368.41 and a 52-week high of $577.00. The company has a market capitalization of $52.24 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.96 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is currently 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.