Paloma Partners Management Co Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Paloma Partners Management Co raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 27.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,600 shares of the financial services provider’s stock after purchasing an additional 347 shares during the period. Paloma Partners Management Co’s holdings in Ameriprise Financial were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Linden Thomas Advisory Services LLC lifted its stake in Ameriprise Financial by 619.8% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 3,491 shares of the financial services provider’s stock valued at $1,491,000 after buying an additional 3,006 shares in the last quarter. Simplicity Wealth LLC raised its holdings in Ameriprise Financial by 32.7% in the 2nd quarter. Simplicity Wealth LLC now owns 3,632 shares of the financial services provider’s stock valued at $1,552,000 after acquiring an additional 895 shares during the last quarter. Wesbanco Bank Inc. grew its position in shares of Ameriprise Financial by 77.6% in the second quarter. Wesbanco Bank Inc. now owns 1,064 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 465 shares during the period. BDF Gestion acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Finally, CHICAGO TRUST Co NA increased its position in Ameriprise Financial by 16.9% during the second quarter. CHICAGO TRUST Co NA now owns 4,054 shares of the financial services provider’s stock worth $1,732,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a 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 company an “equal weight” rating in a report on Thursday, October 17th. 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 research report on Tuesday, October 29th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was 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 represents a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated 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 in the company, valued at approximately $3,615,701.44. This represents a 57.45 % 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 worth $11,983,436 in the last three months. 0.96% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $565.71 on Wednesday. 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 firm has a 50-day simple moving average of $525.46 and a 200 day simple moving average of $465.01. Ameriprise Financial, Inc. has a fifty-two week low of $349.90 and a fifty-two week high of $577.00. The company has a market cap of $54.88 billion, a PE ratio of 21.72, a P/E/G ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 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.