Ashton Thomas Securities LLC Makes New $107,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Ashton Thomas Securities LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 228 shares of the financial services provider’s stock, valued at approximately $107,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. increased its position in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Bank & Trust Co bought a new stake in Ameriprise Financial during the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial during the second quarter valued at approximately $29,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $561.21 on Wednesday. The company has a market capitalization of $54.44 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company’s fifty day moving average price is $486.74 and its 200-day moving average price is $449.04. Ameriprise Financial, Inc. has a one year low of $333.96 and a one year high of $569.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Transactions at Ameriprise Financial

In related news, 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 transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the firm’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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $487.67.

Ameriprise Financial 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.