First Trust Direct Indexing L.P. Purchases 947 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

First Trust Direct Indexing L.P. raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,013 shares of the financial services provider’s stock after acquiring an additional 947 shares during the period. First Trust Direct Indexing L.P.’s holdings in Ameriprise Financial were worth $2,355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMP. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 valued at $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc raised its stake in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after buying an additional 11,060 shares during the last quarter. TD Asset Management Inc boosted its holdings in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. grew its stake in shares of Ameriprise Financial by 35.4% during 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 during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group boosted their price objective 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. Morgan Stanley raised their target price 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, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday. One equities 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 company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $514.04 on Thursday. The firm has a market capitalization of $50.47 billion, a P/E ratio of 19.73, a PEG ratio of 0.81 and a beta of 1.35. The stock has a 50-day simple moving average of $472.05 and a two-hundred day simple moving average of $442.03. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $311.11 and a fifty-two week high of $524.89.

Ameriprise Financial Announces Dividend

The business 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 yield of 1.15%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

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.