Lindbrook Capital LLC Has $1.03 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lindbrook Capital LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,181 shares of the financial services provider’s stock after selling 21 shares during the quarter. Lindbrook Capital LLC’s holdings in Ameriprise Financial were worth $1,025,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. Swedbank AB acquired a new position in shares of Ameriprise Financial during the first quarter worth about $108,938,000. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial during the third quarter worth about $98,742,000. AGF Management Ltd. raised its position in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after acquiring an additional 111,973 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. UBS Group increased their price objective on shares of 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 lowered their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $487.67.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 0.8 %

Ameriprise Financial stock opened at $551.99 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. The stock has a 50-day simple moving average of $484.45 and a 200 day simple moving average of $447.43. The stock has a market capitalization of $53.55 billion, a P/E ratio of 21.19, a PEG ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 52 week low of $330.51 and a 52 week high of $569.47.

Ameriprise Financial Dividend Announcement

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

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.