Great Valley Advisor Group Inc. Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Great Valley Advisor Group Inc. raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 999 shares of the financial services provider’s stock after purchasing an additional 24 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Ameriprise Financial were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Ameriprise Financial by 29.9% in the first quarter. Advisors Asset Management Inc. now owns 1,585 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 365 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Ameriprise Financial by 33.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 1,062 shares during the period. Tidal Investments LLC raised its holdings in shares of Ameriprise Financial by 9.3% in the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock valued at $1,382,000 after acquiring an additional 268 shares in the last quarter. Hancock Whitney Corp lifted its stake in Ameriprise Financial by 2.5% in the first quarter. Hancock Whitney Corp now owns 2,049 shares of the financial services provider’s stock worth $898,000 after acquiring an additional 49 shares during the period. Finally, LBP AM SA grew its holdings in Ameriprise Financial by 52.4% during the 1st quarter. LBP AM SA now owns 5,623 shares of the financial services provider’s stock worth $2,465,000 after acquiring an additional 1,933 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.7 %

Shares of NYSE:AMP opened at $574.12 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $55.70 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.00 and a beta of 1.34. The business’s 50-day moving average is $514.51 and its 200 day moving average is $460.28. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $577.00.

Ameriprise Financial Announces Dividend

The business also recently disclosed 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 dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price 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.