Cerity Partners LLC Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 47.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,087 shares of the financial services provider’s stock after acquiring an additional 28,768 shares during the period. Cerity Partners LLC owned about 0.09% of Ameriprise Financial worth $41,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. boosted its holdings in shares of Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 24 shares in the last quarter. GenTrust LLC purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $226,000. Raymond James Trust N.A. boosted its holdings in shares of Ameriprise Financial by 6.4% in the third quarter. Raymond James Trust N.A. now owns 10,016 shares of the financial services provider’s stock valued at $4,706,000 after acquiring an additional 606 shares in the last quarter. First County Bank CT boosted its holdings in shares of Ameriprise Financial by 40.1% in the third quarter. First County Bank CT now owns 915 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 262 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Ameriprise Financial by 2.8% in the third quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock valued at $4,803,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $572.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $55.50 billion, a P/E ratio of 21.96, a PEG ratio of 0.99 and a beta of 1.34. The company has a 50-day moving average of $509.57 and a two-hundred day moving average of $458.07. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $575.37.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of 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 raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group cut 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the company’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 transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. Insiders own 0.73% 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.