World Investment Advisors LLC Acquires Shares of 1,402 Ameriprise Financial, Inc. (NYSE:AMP)

World Investment Advisors LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 1,402 shares of the financial services provider’s stock, valued at approximately $659,000.

Other hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. raised its position in Ameriprise Financial by 15.4% during the second quarter. Focus Financial Network Inc. now owns 1,230 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp raised its holdings in Ameriprise Financial by 11.9% during the 2nd quarter. Fifth Third Bancorp now owns 7,144 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 758 shares during the period. Aaron Wealth Advisors LLC lifted its position in Ameriprise Financial by 5.3% in the second quarter. Aaron Wealth Advisors LLC now owns 730 shares of the financial services provider’s stock worth $312,000 after buying an additional 37 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Ameriprise Financial by 51.2% during the second quarter. Fifth Third Wealth Advisors LLC now owns 3,378 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 1,144 shares during the period. Finally, Vicus Capital increased its position in Ameriprise Financial by 5.4% during the second quarter. Vicus Capital now owns 546 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 28 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP opened at $550.12 on Tuesday. The company has a market capitalization of $53.37 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.96 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $368.41 and a 12-month high of $577.00. The business’s fifty day simple moving average is $539.80 and its 200-day simple moving average is $472.56.

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. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMP. Royal Bank of Canada lifted their price target 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. The Goldman Sachs Group cut 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. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price objective 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. Finally, UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $487.67.

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.