M.E. Allison & CO. Inc. Takes $375,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

M.E. Allison & CO. Inc. bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, Holdings Channel.com reports. The fund bought 705 shares of the financial services provider’s stock, valued at approximately $375,000.

Other large investors have also recently modified their holdings of the company. Czech National Bank boosted its stake in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares in the last quarter. Bridgewater Associates LP boosted its stake in shares of Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC boosted its stake in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $458,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

Shares of AMP stock opened at $551.61 on Monday. Ameriprise Financial, Inc. has a 12 month low of $369.29 and a 12 month high of $577.00. The stock has a market cap of $53.51 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. 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 50 day simple moving average of $548.42 and a two-hundred day simple moving average of $489.37.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,715 shares of company stock valued at $11,983,436. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of 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 lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock 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 three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $494.89.

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.