Bellwether Advisors LLC Invests $6.88 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Bellwether Advisors LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,639 shares of the financial services provider’s stock, valued at approximately $6,878,000. Ameriprise Financial accounts for about 1.3% of Bellwether Advisors LLC’s investment portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. First Horizon Advisors Inc. lifted its stake in Ameriprise Financial by 10.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,019 shares of the financial services provider’s stock valued at $1,889,000 after acquiring an additional 369 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 188 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Ameriprise Financial during the third quarter valued at $4,144,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Ameriprise Financial during the third quarter valued at about $3,278,000. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Ameriprise Financial by 3.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,505 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 127 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,415 shares of company stock valued at $15,829,445. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $562.56 on Wednesday. The firm has a market capitalization of $54.58 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company’s 50-day moving average is $501.69 and its 200 day moving average is $455.28. Ameriprise Financial, Inc. has a 1-year low of $343.98 and a 1-year high of $569.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMP shares. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group upped their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their target price on 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 lifted 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 report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and an average 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.