Signet Financial Management LLC Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Signet Financial Management LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,551 shares of the financial services provider’s stock after purchasing an additional 26 shares during the quarter. Signet Financial Management LLC’s holdings in Ameriprise Financial were worth $4,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the last quarter. Maj Invest Holding A S purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. The Manufacturers Life Insurance Company lifted its stake in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after buying an additional 110,319 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Ameriprise Financial during the third quarter valued at approximately $456,890,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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 sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last 90 days. 0.73% of the stock is owned by insiders.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada lifted their target price 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. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday. The Goldman Sachs Group lowered 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. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Price Performance

NYSE AMP traded up $2.79 during trading on Monday, hitting $518.27. 432,588 shares of the stock traded hands, compared to its average volume of 420,824. The company has a quick ratio of 0.65, a current 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 firm has a 50-day simple moving average of $548.56 and a 200-day simple moving average of $486.03. The company has a market capitalization of $50.28 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 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.