Zhang Financial LLC Purchases 190 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Zhang Financial LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,462 shares of the financial services provider’s stock after purchasing an additional 190 shares during the period. Zhang Financial LLC’s holdings in Ameriprise Financial were worth $1,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Maj Invest Holding A S purchased a new stake in Ameriprise Financial during the third quarter valued at about $98,742,000. Assenagon Asset Management S.A. boosted its position in Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after buying an additional 195,271 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after buying an additional 143,648 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Ameriprise Financial in the third quarter worth about $456,890,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMP. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada increased their price target 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. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $551.61 on Monday. 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, Inc. has a twelve month low of $369.29 and a twelve month high of $577.00. The stock has a market cap of $53.51 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The firm’s fifty day simple moving average is $548.42 and its 200 day simple moving average is $489.37.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was 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.