Benjamin Edwards Inc. Buys 1,085 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Benjamin Edwards Inc. boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1,261.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,171 shares of the financial services provider’s stock after purchasing an additional 1,085 shares during the period. Benjamin Edwards Inc.’s holdings in Ameriprise Financial were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in shares of Ameriprise Financial by 9.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,551 shares of the financial services provider’s stock worth $1,517,000 after buying an additional 305 shares during the last quarter. Foguth Wealth Management LLC. purchased a new position in Ameriprise Financial in the second quarter worth about $282,000. Diversified Trust Co grew its stake in shares of Ameriprise Financial by 4.2% during the 2nd quarter. Diversified Trust Co now owns 7,545 shares of the financial services provider’s stock valued at $3,223,000 after purchasing an additional 303 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Ameriprise Financial by 23.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after purchasing an additional 5,692 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $205,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % 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 worth $11,983,436. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Down 0.6 %

NYSE AMP opened at $561.55 on Monday. Ameriprise Financial, Inc. has a 12 month low of $350.37 and a 12 month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $54.48 billion, a PE ratio of 21.56, a P/E/G ratio of 0.98 and a beta of 1.34. The stock’s 50 day moving average is $531.24 and its 200 day moving average is $467.70.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analysts Forecast Growth

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