Aljian Capital Management LLC Makes New $458,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 976 shares of the financial services provider’s stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BDF Gestion purchased a new stake in Ameriprise Financial during the second quarter valued at $2,836,000. Capital World Investors lifted its stake in shares of Ameriprise Financial by 95.0% in the 1st quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after purchasing an additional 32,930 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after buying an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ameriprise Financial by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after buying an additional 5,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings 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 valued at $24,375,000 after buying an additional 45,420 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $562.44 on Monday. The business’s 50-day moving average is $496.55 and its 200 day moving average is $453.22. Ameriprise Financial, Inc. has a 12 month low of $342.96 and a 12 month high of $569.47. The company has a market capitalization of $54.56 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were 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 owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada lifted 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. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted 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. Finally, Keefe, Bruyette & Woods lifted 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $487.67.

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.