Public Sector Pension Investment Board Purchases 300 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Public Sector Pension Investment Board raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,136 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Ameriprise Financial were worth $8,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. BDF Gestion bought a new stake in Ameriprise Financial during the second quarter valued at approximately $2,836,000. Cetera Investment Advisers grew its position in shares of Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after acquiring an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Ameriprise Financial by 390.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares during the period. Finally, Empowered Funds LLC lifted its position in Ameriprise Financial by 19.9% during the third 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. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Trading Up 0.3 %

Shares of Ameriprise Financial stock opened at $573.74 on Friday. Ameriprise Financial, Inc. has a twelve month low of $347.74 and a twelve month high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $521.35 and a 200-day moving average price of $462.81. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s 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 completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $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 ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial 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.