Graypoint LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Graypoint LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the third quarter, HoldingsChannel.com reports. The firm owned 2,835 shares of the financial services provider’s stock after purchasing an additional 54 shares during the period. Graypoint LLC’s holdings in Ameriprise Financial were worth $1,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its stake in shares of 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 acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $26,000. Mascoma Wealth Management LLC raised its stake in shares of 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 acquiring an additional 40 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $29,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $31,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMP. Royal Bank of Canada lifted their price target 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. UBS Group lifted their price objective 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. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $487.67.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $547.87 on Friday. The firm’s fifty day simple moving average is $480.29 and its two-hundred day simple moving average is $445.82. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $330.51 and a 12-month high of $569.47. The firm has a market capitalization of $53.15 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.88 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

About Ameriprise Financial

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.