Adero Partners LLC Raises Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Adero Partners LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 534 shares of the financial services provider’s stock after acquiring an additional 44 shares during the quarter. Adero Partners LLC’s holdings in Ameriprise Financial were worth $251,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group raised 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. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $487.67.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s 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 transaction, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.2 %

NYSE:AMP opened at $562.44 on Monday. Ameriprise Financial, Inc. has a 12 month low of $342.96 and a 12 month high of $569.47. The firm has a fifty day simple moving average of $496.55 and a 200-day simple moving average of $453.22. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $54.56 billion, a P/E ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s payout ratio is currently 22.73%.

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.