Van ECK Associates Corp Acquires 1,648 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Van ECK Associates Corp boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,620 shares of the financial services provider’s stock after purchasing an additional 1,648 shares during the quarter. Van ECK Associates Corp’s holdings in Ameriprise Financial were worth $8,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empirical Finance LLC boosted its position in shares of Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 8,693 shares during the last quarter. BDF Gestion bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at approximately $2,836,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $570,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Ameriprise Financial by 18.4% during the 1st quarter. Russell Investments Group Ltd. now owns 110,926 shares of the financial services provider’s stock valued at $48,576,000 after acquiring an additional 17,276 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $567.43 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $55.72 billion, a PE ratio of 21.78, a P/E/G ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $330.51 and a 12-month high of $569.47. The business’s fifty day moving average price is $480.29 and its 200 day moving average price is $445.82.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMP shares. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised 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. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $487.67.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% 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.