442 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 442 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other large investors also recently made changes to their positions in AMP. Bellwether Advisors LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $6,878,000. First Horizon Advisors Inc. increased its position in Ameriprise Financial by 10.1% during the third quarter. First Horizon Advisors Inc. now owns 4,019 shares of the financial services provider’s stock worth $1,889,000 after buying an additional 369 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Ameriprise Financial by 11.1% during the third quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock valued at $887,000 after buying an additional 188 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth about $4,144,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $3,278,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Ameriprise Financial Stock Performance

NYSE:AMP opened at $572.07 on Monday. The firm’s 50-day moving average is $509.57 and its 200-day moving average is $458.30. The company has a market cap of $55.50 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.99 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $575.37.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the company’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 sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock valued at $15,829,445 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

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.