Prospera Private Wealth LLC Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Prospera Private Wealth LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,821 shares of the financial services provider’s stock, valued at approximately $4,144,000.

Several other institutional investors also recently made changes to their positions in AMP. BDF Gestion purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth $2,836,000. Capital World Investors increased its position in shares of Ameriprise Financial by 95.0% in the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after acquiring an additional 32,930 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after acquiring an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ameriprise Financial by 23.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after acquiring an additional 5,692 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Stock Down 0.5 %

Shares of Ameriprise Financial stock opened at $562.33 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $343.98 and a 12-month high of $569.47. The firm has a market capitalization of $54.55 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $501.69 and its 200-day moving average is $455.28.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Activity

In related 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 completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction 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 trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.96% of the stock is owned by corporate insiders.

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.