Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by SpiderRock Advisors LLC

SpiderRock Advisors LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 136.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,237 shares of the financial services provider’s stock after acquiring an additional 1,867 shares during the period. SpiderRock Advisors LLC’s holdings in Ameriprise Financial were worth $1,521,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMP. Norden Group LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at about $274,000. Geneos Wealth Management Inc. grew its stake in shares of Ameriprise Financial by 57.5% during the first quarter. Geneos Wealth Management Inc. now owns 137 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 50 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ameriprise Financial during the first quarter valued at about $1,713,000. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 13.7% during the first quarter. Empowered Funds LLC now owns 3,621 shares of the financial services provider’s stock valued at $1,588,000 after acquiring an additional 436 shares in the last quarter. Finally, KCM Investment Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at about $283,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred 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 directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $551.99 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $484.45 and its two-hundred day moving average price is $447.43. Ameriprise Financial, Inc. has a 52-week low of $330.51 and a 52-week high of $569.47. The stock has a market capitalization of $53.55 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group lifted 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 downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley lifted their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.