480 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by GenTrust LLC

GenTrust LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, HoldingsChannel reports. The firm purchased 480 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Legal & General Group Plc raised its stake in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after acquiring an additional 11,060 shares in the last quarter. AGF Management Ltd. raised its stake in Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Ameriprise Financial by 3.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock valued at $195,894,000 after acquiring an additional 17,312 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Ameriprise Financial by 25.3% during the 2nd quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock valued at $182,831,000 after purchasing an additional 86,315 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. 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. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $572.07 on Friday. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $575.37. 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 $55.50 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34. The stock’s fifty day simple moving average is $509.57 and its 200-day simple moving average is $458.07.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio is 22.73%.

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.