Fifth Third Wealth Advisors LLC Buys 300 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Wealth Advisors LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,805 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,026,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Accurate Wealth Management LLC increased its holdings in Ameriprise Financial by 1,067.4% during the 4th quarter. Accurate Wealth Management LLC now owns 5,545 shares of the financial services provider’s stock worth $2,858,000 after purchasing an additional 5,070 shares during the period. Mendota Financial Group LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth $124,000. Signet Financial Management LLC increased its stake in shares of Ameriprise Financial by 0.3% during the fourth quarter. Signet Financial Management LLC now owns 7,551 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 26 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Ameriprise Financial by 43.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 1,065 shares of the financial services provider’s stock valued at $567,000 after acquiring an additional 324 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its stake in Ameriprise Financial by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 1,042 shares of the financial services provider’s stock worth $555,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMP shares. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock 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 company an “equal weight” rating in a report on Thursday, October 17th. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial Trading Up 1.7 %

Shares of NYSE:AMP opened at $526.21 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 $51.05 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.96 and a beta of 1.36. The business’s 50-day moving average is $549.04 and its 200 day moving average is $487.35. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00.

Ameriprise Financial Dividend Announcement

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 1.13%. 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 related news, 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last three months. Corporate insiders own 0.73% of the company’s stock.

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.