Arthur M. Cohen & Associates LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Arthur M. Cohen & Associates LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,105 shares of the financial services provider’s stock after purchasing an additional 140 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Ameriprise Financial were worth $523,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMP. Allspring Global Investments Holdings LLC raised its position in Ameriprise Financial by 188.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock valued at $12,565,000 after purchasing an additional 18,722 shares during the period. Norden Group LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $274,000. Diversify Advisory Services LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $233,000. Mirae Asset Global Investments Co. Ltd. grew its position in Ameriprise Financial by 17.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,141 shares of the financial services provider’s stock valued at $13,215,000 after acquiring an additional 4,391 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Ameriprise Financial by 12.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ameriprise Financial 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 directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William Davies sold 8,700 shares of the 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 sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMP shares. UBS Group upped their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised 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. Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Stock Down 0.3 %

NYSE:AMP opened at $505.08 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a one year low of $329.16 and a one year high of $524.89. The stock has a 50-day simple moving average of $476.24 and a 200 day simple moving average of $444.28.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. 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.