Bridgewater Associates LP increased its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 97.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,510 shares of the financial services provider’s stock after buying an additional 24,968 shares during the period. Bridgewater Associates LP’s holdings in Ameriprise Financial were worth $23,730,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in AMP. BDF Gestion purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth about $2,836,000. Cetera Investment Advisers raised 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 buying an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in 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 valued at $12,615,000 after buying an additional 5,692 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Ameriprise Financial by 390.2% during the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after buying an additional 45,420 shares during the period. Finally, Empowered Funds LLC grew its stake 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 worth $3,768,000 after buying an additional 1,329 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on AMP shares. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group increased 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. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $487.67.
Ameriprise Financial Price Performance
Shares of NYSE AMP opened at $571.89 on Thursday. 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, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00. The business has a 50 day moving average price of $516.92 and a two-hundred day moving average price of $461.06. The firm has a market cap 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 Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. 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, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.96% of the company’s stock.
About Ameriprise Financial
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.
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