Park Avenue Securities LLC Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Park Avenue Securities LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 23.0% during the fourth quarter, HoldingsChannel reports. The firm owned 21,791 shares of the financial services provider’s stock after purchasing an additional 4,075 shares during the period. Park Avenue Securities LLC’s holdings in Ameriprise Financial were worth $11,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its holdings in shares of Ameriprise Financial by 1.7% in the second quarter. Oppenheimer & Co. Inc. now owns 5,083 shares of the financial services provider’s stock valued at $2,171,000 after purchasing an additional 84 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Ameriprise Financial by 21.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,755 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 831 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Ameriprise Financial by 17.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 698 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 105 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Ameriprise Financial by 8.6% during the 2nd quarter. Rathbones Group PLC now owns 1,827 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 145 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Ameriprise Financial by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 215,965 shares of the financial services provider’s stock valued at $92,258,000 after acquiring an additional 18,833 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMP. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. 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 note on Thursday, October 17th. Finally, UBS Group lowered 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. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $494.89.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction 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 completion of the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last three months. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 1.7 %

NYSE:AMP opened at $526.21 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $368.41 and a 52 week high of $577.00. 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 stock’s fifty day moving average is $549.04 and its two-hundred day moving average is $487.35. The stock has a market capitalization of $51.05 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.