Arjuna Capital Purchases 3,434 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Arjuna Capital boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,490 shares of the financial services provider’s stock after purchasing an additional 3,434 shares during the quarter. Ameriprise Financial comprises 1.6% of Arjuna Capital’s portfolio, making the stock its 14th largest holding. Arjuna Capital’s holdings in Ameriprise Financial were worth $6,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AMP. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $26,000. Mascoma Wealth Management LLC grew its holdings in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Bank & Trust Co acquired a new position in Ameriprise Financial during the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. acquired a new position in Ameriprise Financial during the second quarter valued at approximately $29,000. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

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

Ameriprise Financial Price Performance

AMP traded up $0.94 during midday trading on Wednesday, hitting $562.25. The stock had a trading volume of 23,350 shares, compared to its average volume of 467,317. The company has a market cap of $54.54 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The business has a fifty day moving average of $489.13 and a 200 day moving average of $450.11. 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 $338.00 and a 1 year high of $569.47.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s payout ratio is currently 22.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their price objective 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. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group increased their price objective 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. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $487.67.

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.