Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,842 shares of the financial services provider’s stock after acquiring an additional 35 shares during the period. First Commonwealth Financial Corp PA’s holdings in Ameriprise Financial were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC lifted its stake in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Bank & Trust Co purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $29,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Ameriprise Financial in the third quarter worth $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMP shares. Royal Bank of Canada increased their price target on 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 boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised 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 note on Tuesday, October 29th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group upped their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock valued at $15,829,445. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

AMP stock traded up $1.24 during mid-day trading on Wednesday, reaching $575.25. The company’s stock had a trading volume of 6,425 shares, compared to its average volume of 470,411. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00. The stock has a market cap of $55.81 billion, a PE ratio of 22.04, a P/E/G ratio of 0.99 and a beta of 1.34. The company’s 50 day moving average is $514.51 and its two-hundred day moving average is $460.28. 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 Dividend Announcement

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

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.