Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 19.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,163 shares of the financial services provider’s stock after buying an additional 348 shares during the quarter. EP Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Maj Invest Holding A S acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $98,742,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after buying an additional 143,648 shares during the period. AGF Management Ltd. lifted its holdings in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the period. Dimensional Fund Advisors LP raised its holdings in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Ameriprise Financial in the 3rd quarter worth about $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMP shares. Royal Bank of Canada upped their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $487.67.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on 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 directly owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % 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, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value 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. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $546.23 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $358.89 and a 12 month high of $577.00. The stock has a 50 day moving average of $532.92 and a two-hundred day moving average of $468.55. 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 firm has a market cap of $52.99 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

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.