Harbour Investments Inc. Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Harbour Investments Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,006 shares of the financial services provider’s stock after purchasing an additional 52 shares during the quarter. Harbour Investments Inc.’s holdings in Ameriprise Financial were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Swedbank AB bought a new position in Ameriprise Financial in the 1st quarter worth approximately $108,938,000. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial in the third quarter worth $98,742,000. AGF Management Ltd. grew its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $482,588,000 after purchasing an additional 110,319 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $456,890,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s 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 completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the 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 transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 0.2 %

AMP opened at $562.44 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $496.55 and its 200 day simple moving average is $452.66. Ameriprise Financial, Inc. has a 52 week low of $342.96 and a 52 week high of $569.47. The stock has a market cap of $54.57 billion, a PE ratio of 21.59, a P/E/G ratio of 0.97 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given 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 1.05%. Ameriprise Financial’s payout ratio is 22.73%.

Analyst Upgrades and Downgrades

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

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.