Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by PFG Investments LLC

PFG Investments LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 12.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,328 shares of the financial services provider’s stock after acquiring an additional 146 shares during the period. PFG Investments LLC’s holdings in Ameriprise Financial were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Ameriprise Financial by 11.4% during the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 630 shares in the last quarter. Founders Financial Securities LLC purchased a new position in Ameriprise Financial during the first quarter worth $206,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Ameriprise Financial by 188.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock worth $12,565,000 after acquiring an additional 18,722 shares during the last quarter. Narus Financial Partners LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at $210,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Ameriprise Financial by 50.4% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,269 shares of the financial services provider’s stock valued at $995,000 after acquiring an additional 760 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley increased 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. Finally, UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $482.11.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $513.30 on Tuesday. The business’s 50-day simple moving average is $468.79 and its 200-day simple moving average is $440.80. The firm has a market capitalization of $50.98 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $311.11 and a 1-year high of $524.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s payout ratio is currently 20.15%.

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.