Cerity Partners LLC Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 47.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,087 shares of the financial services provider’s stock after purchasing an additional 28,768 shares during the period. Cerity Partners LLC’s holdings in Ameriprise Financial were worth $41,854,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMP. Swedbank AB purchased a new position in Ameriprise Financial during the first quarter worth approximately $108,938,000. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial in the third quarter worth $98,742,000. AGF Management Ltd. increased its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $456,890,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMP shares. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. 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. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, 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 report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Price Performance

AMP opened at $572.07 on Friday. The company has a fifty day simple moving average of $509.57 and a 200 day simple moving average of $458.07. The firm has a market cap of $55.50 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.99 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $575.37. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,415 shares of company stock valued at $15,829,445. Insiders own 0.73% of the company’s stock.

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.