Northwest & Ethical Investments L.P. Invests $5.21 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Northwest & Ethical Investments L.P. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,094 shares of the financial services provider’s stock, valued at approximately $5,212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BDF Gestion bought a new stake in shares of Ameriprise Financial during the second quarter worth $2,836,000. Cetera Investment Advisers increased its holdings in Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Ameriprise Financial by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after acquiring an additional 5,692 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of 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 holdings in Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares during the period. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 completion of the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $571.91 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $55.48 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $577.00. The company has a 50-day simple moving average of $519.09 and a 200 day simple moving average of $461.83.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. UBS Group lifted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price objective 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. 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 report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price target 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, Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.