Oppenheimer & Co. Inc. Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Oppenheimer & Co. Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,358 shares of the financial services provider’s stock after buying an additional 1,275 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ameriprise Financial were worth $2,987,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. Swedbank AB acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $108,938,000. Maj Invest Holding A S purchased a new position in Ameriprise Financial in the third quarter valued at approximately $98,742,000. AGF Management Ltd. grew its stake in 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 buying an additional 131,844 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 worth $482,588,000 after acquiring an additional 110,319 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.2 %

AMP stock opened at $562.44 on Friday. The company has a market capitalization of $54.57 billion, a P/E ratio of 21.59, a PEG ratio of 0.97 and a beta of 1.34. The firm has a 50 day simple moving average of $493.91 and a 200-day simple moving average of $451.64. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $342.96 and a twelve month high of $569.47.

Ameriprise Financial Dividend Announcement

The business 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. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. UBS Group lifted their target price 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. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, 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 research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $487.67.

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.