Zhang Financial LLC Buys 190 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Zhang Financial LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,462 shares of the financial services provider’s stock after buying an additional 190 shares during the quarter. Zhang Financial LLC’s holdings in Ameriprise Financial were worth $1,844,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Guinness Asset Management LTD lifted its stake in shares of Ameriprise Financial by 57.0% in the fourth quarter. Guinness Asset Management LTD now owns 1,648 shares of the financial services provider’s stock worth $877,000 after buying an additional 598 shares in the last quarter. UMB Bank n.a. raised its holdings in Ameriprise Financial by 3.1% in the 4th quarter. UMB Bank n.a. now owns 3,098 shares of the financial services provider’s stock worth $1,649,000 after acquiring an additional 92 shares during the last quarter. M.E. Allison & CO. Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $375,000. Grove Bank & Trust raised its stake in shares of Ameriprise Financial by 4.9% in the fourth quarter. Grove Bank & Trust now owns 811 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 38 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $530,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $551.61 on Monday. The stock has a 50-day simple moving average of $548.42 and a two-hundred day simple moving average of $489.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $369.29 and a 52-week high of $577.00. The firm has a market capitalization of $53.51 billion, a PE ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley increased 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. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $494.89.

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.