Mendota Financial Group LLC Invests $124,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Mendota Financial Group LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 232 shares of the financial services provider’s stock, valued at approximately $124,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Maj Invest Holding A S purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $98,742,000. The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after acquiring an additional 143,648 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $456,890,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated 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 of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $518.27 on Tuesday. The stock’s 50-day moving average is $548.79 and its two-hundred day moving average is $486.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $50.28 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $368.41 and a 1-year high of $577.00.

Ameriprise Financial Dividend Announcement

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 $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMP. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada upped their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $494.89.

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.