Fifth Third Wealth Advisors LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Wealth Advisors LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,805 shares of the financial services provider’s stock after purchasing an additional 300 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP boosted its holdings in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after buying an additional 24,968 shares during the period. Empowered Funds LLC lifted its position in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC boosted its stake in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 1,867 shares during the period. Aljian Capital Management LLC purchased a new stake in shares of Ameriprise Financial during the third quarter worth about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ameriprise Financial by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock worth $8,725,000 after purchasing an additional 1,191 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMP. Morgan Stanley upped their price target 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. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $494.89.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 1.7 %

Shares of NYSE AMP opened at $526.21 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $368.41 and a 1-year high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50 day moving average is $549.04 and its two-hundred day moving average is $487.35. The stock has a market capitalization of $51.05 billion, a P/E ratio of 20.20, a PEG ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

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 dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend 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.