995 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 995 shares of the financial services provider’s stock, valued at approximately $530,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Blair William & Co. IL boosted its stake in Ameriprise Financial by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 15,573 shares of the financial services provider’s stock worth $6,653,000 after purchasing an additional 617 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Ameriprise Financial by 13.9% in the second quarter. Brighton Jones LLC now owns 771 shares of the financial services provider’s stock worth $329,000 after buying an additional 94 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Ameriprise Financial by 5.8% during the second quarter. Ieq Capital LLC now owns 7,579 shares of the financial services provider’s stock valued at $3,238,000 after buying an additional 416 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Ameriprise Financial by 18.6% during the second quarter. Canada Pension Plan Investment Board now owns 228,228 shares of the financial services provider’s stock valued at $97,497,000 after acquiring an additional 35,868 shares in the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Ameriprise Financial by 28.6% during the second quarter. AE Wealth Management LLC now owns 2,042 shares of the financial services provider’s stock valued at $872,000 after acquiring an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $551.61 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. The firm has a fifty day moving average price of $548.42 and a 200 day moving average price of $488.98. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 and a fifty-two week high of $577.00.

Ameriprise Financial Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Analyst Ratings Changes

AMP has been the subject of several recent analyst reports. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group cut 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 report on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $494.89.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Corporate insiders own 0.96% of the company’s stock.

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.