Fifth Third Wealth Advisors LLC Purchases 127 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,505 shares of the financial services provider’s stock after purchasing an additional 127 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $1,647,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. BDF Gestion bought a new stake in shares of Ameriprise Financial during the second quarter worth $2,836,000. Capital World Investors raised its stake in shares of Ameriprise Financial by 95.0% in the 1st quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock valued at $29,641,000 after purchasing an additional 32,930 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ameriprise Financial by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after buying an additional 5,692 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Ameriprise Financial by 390.2% during the second 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 in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 0.5 %

Ameriprise Financial stock opened at $562.33 on Wednesday. The stock has a 50-day simple moving average of $501.69 and a 200 day simple moving average of $455.28. The stock has a market capitalization of $54.55 billion, a P/E ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. 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 52 week low of $343.98 and a 52 week high of $569.47.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,415 shares of company stock valued at $15,829,445. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMP shares. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised their target price 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 lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered 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 lifted 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.