Stephens Inc. AR Has $1.01 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Stephens Inc. AR increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,145 shares of the financial services provider’s stock after buying an additional 94 shares during the quarter. Stephens Inc. AR’s holdings in Ameriprise Financial were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empirical Finance LLC increased its position in Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after acquiring an additional 8,693 shares in the last quarter. BDF Gestion acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $2,836,000. Janney Montgomery Scott LLC raised its holdings in shares of Ameriprise Financial by 12.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $570,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 1.5 %

Shares of Ameriprise Financial stock opened at $513.95 on Wednesday. The company has a market cap of $50.46 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a 1 year low of $329.16 and a 1 year high of $524.89. The company’s fifty day simple moving average is $477.73 and its 200-day simple moving average is $444.96. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. Ameriprise Financial’s payout ratio is 22.73%.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction 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 in the company, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on AMP shares. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $487.67.

About Ameriprise Financial

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.