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

Public Sector Pension Investment Board boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares in the last quarter. Ledyard National Bank grew its stake in Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after buying an additional 23 shares during the last quarter. Heartland Bank & Trust Co grew its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 24 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after buying an additional 24 shares during the last quarter. Finally, Portside Wealth Group LLC raised its stake in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted 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. Royal Bank of Canada raised their price target 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. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Stock Up 0.3 %

Shares of AMP opened at $573.74 on Friday. The company has a market capitalization 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, Inc. has a 52 week low of $347.74 and a 52 week high of $577.00. The stock’s 50-day moving average price is $521.35 and its 200-day moving average price is $462.81. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

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.