Chicago Partners Investment Group LLC Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Chicago Partners Investment Group LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 421 shares of the financial services provider’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. lifted its position in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC boosted its stake in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. purchased a new position in Ameriprise Financial in the 2nd quarter worth $29,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The stock was 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 $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the firm’s 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 $2,409,437.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of several analyst reports. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted 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 raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $513.95 on Wednesday. The firm has a market capitalization of $50.46 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.88 and a beta of 1.34. The stock has a fifty day moving average of $477.73 and a 200 day moving average of $444.96. Ameriprise Financial, Inc. has a 52 week low of $329.16 and a 52 week high of $524.89. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. 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.