Graypoint LLC Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Graypoint LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,835 shares of the financial services provider’s stock after buying an additional 54 shares during the period. Graypoint LLC’s holdings in Ameriprise Financial were worth $1,332,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the period. Swedbank AB bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at $108,938,000. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $98,742,000. AGF Management Ltd. grew its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Ameriprise Financial by 18.8% during 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 during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 3.4 %

Shares of AMP stock opened at $547.87 on Friday. The stock has a market cap of $53.15 billion, a P/E ratio of 21.03, a PEG ratio of 0.88 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. 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 company’s fifty day simple moving average is $480.29 and its two-hundred day simple moving average is $445.82.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, UBS Group upped their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $487.67.

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.