LRI Investments LLC Purchases 67 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

LRI Investments LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 713 shares of the financial services provider’s stock after purchasing an additional 67 shares during the period. LRI Investments LLC’s holdings in Ameriprise Financial were worth $335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geller Advisors LLC lifted its position in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after buying an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 20 shares during the period. Ledyard National Bank boosted its position in Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 23 shares during the last quarter. Heartland Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 24 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after buying an additional 24 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’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 value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 1.4 %

Shares of AMP opened at $553.83 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $358.89 and a twelve month high of $577.00. The stock has a market cap of $53.73 billion, a PE ratio of 21.26, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $532.92 and its 200-day moving average price is $468.55.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group increased their price target 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 decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped their price objective 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, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $487.67.

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.