Aljian Capital Management LLC Acquires Shares of 976 Ameriprise Financial, Inc. (NYSE:AMP)

Aljian Capital Management LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 976 shares of the financial services provider’s stock, valued at approximately $458,000.

A number of other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board bought a new stake in shares of Ameriprise Financial in the first quarter valued at about $1,515,000. O Shaughnessy Asset Management LLC boosted its position in Ameriprise Financial by 7.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 25,024 shares of the financial services provider’s stock valued at $10,971,000 after acquiring an additional 1,754 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Ameriprise Financial by 259.4% in the first quarter. UniSuper Management Pty Ltd now owns 3,540 shares of the financial services provider’s stock valued at $1,552,000 after purchasing an additional 2,555 shares during the last quarter. Bessemer Group Inc. grew its stake in Ameriprise Financial by 2.1% in the first quarter. Bessemer Group Inc. now owns 9,748 shares of the financial services provider’s stock valued at $4,274,000 after purchasing an additional 199 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in Ameriprise Financial by 61.5% in the first quarter. Lake Street Advisors Group LLC now owns 2,506 shares of the financial services provider’s stock worth $1,099,000 after purchasing an additional 954 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.2 %

Shares of NYSE:AMP opened at $562.44 on Monday. Ameriprise Financial, Inc. has a 52-week low of $342.96 and a 52-week high of $569.47. The stock has a market cap of $54.56 billion, a P/E ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. The business has a fifty day moving average of $496.55 and a two-hundred day moving average of $453.22. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group lowered 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 research report on Thursday, September 26th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.73% 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.