Mendota Financial Group LLC Invests $124,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Mendota Financial Group LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 232 shares of the financial services provider’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bridgewater Associates LP raised its holdings in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its position in shares of Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC lifted its holdings in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares during the last quarter. Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth $458,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Ameriprise Financial by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock worth $8,725,000 after buying an additional 1,191 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $494.89.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction 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 $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.5 %

Shares of AMP stock opened at $518.27 on Tuesday. 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, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The stock has a 50 day moving average of $548.79 and a 200 day moving average of $486.65. The stock has a market cap of $50.28 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

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.