Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,492 shares of the financial services provider’s stock after acquiring an additional 46 shares during the quarter. Wedmont Private Capital’s holdings in Ameriprise Financial were worth $1,800,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 110,319 shares during the period. Legal & General Group Plc boosted its holdings in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after acquiring an additional 11,060 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock valued at $195,894,000 after acquiring an additional 17,312 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 in the last three months. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $518.27 on Tuesday. The company’s fifty day moving average price is $548.79 and its two-hundred day moving average price is $486.65. 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 market capitalization of $50.28 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

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.