Ameriprise Financial (NYSE:AMP) Reaches New 1-Year High – Here’s What Happened

Ameriprise Financial, Inc. (NYSE:AMP) reached a new 52-week high during trading on Thursday . The stock traded as high as $571.65 and last traded at $571.65, with a volume of 73876 shares traded. The stock had previously closed at $561.40.

Wall Street Analyst Weigh In

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

Ameriprise Financial Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day moving average of $509.57 and a 200 day moving average of $457.84. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial 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 completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock worth $15,829,445 in the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BDF Gestion acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $2,836,000. Capital World Investors increased its position in Ameriprise Financial by 95.0% during the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after purchasing an additional 32,930 shares during the last quarter. Cetera Investment Advisers raised its stake in Ameriprise Financial by 335.6% during the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after purchasing an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Ameriprise Financial by 23.9% in 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, Assenagon Asset Management S.A. increased its holdings in shares of Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after buying an additional 45,420 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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.