Weaver Consulting Group Makes New $206,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Weaver Consulting Group purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 439 shares of the financial services provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Capital Wealth Partners LLC raised its stake in shares of Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares during the last quarter. Ledyard National Bank increased its stake in Ameriprise Financial by 3.2% in the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after buying an additional 23 shares during the period. Heartland Bank & Trust Co raised its position in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 24 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $565.33 on Friday. The firm has a market capitalization of $54.85 billion, a PE ratio of 21.70, a P/E/G ratio of 0.99 and a beta of 1.34. Ameriprise Financial, Inc. has a 52 week low of $349.90 and a 52 week high of $577.00. The firm’s 50-day simple moving average is $529.39 and its 200 day simple moving average is $466.38. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $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 21,715 shares of company stock worth $11,983,436 in the last ninety days. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMP shares. Keefe, Bruyette & Woods raised 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. UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.