M.E. Allison & CO. Inc. Invests $375,000 in Ameriprise Financial, Inc. (NYSE:AMP)

M.E. Allison & CO. Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 705 shares of the financial services provider’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Grove Bank & Trust increased its position in shares of Ameriprise Financial by 4.9% during the fourth quarter. Grove Bank & Trust now owns 811 shares of the financial services provider’s stock worth $432,000 after acquiring an additional 38 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth about $530,000. Kelly Financial Services LLC grew its position in Ameriprise Financial by 7.0% in the 4th quarter. Kelly Financial Services LLC now owns 614 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 40 shares in the last quarter. Oak Ridge Investments LLC bought a new stake in Ameriprise Financial in the 4th quarter worth about $393,000. Finally, Aaron Wealth Advisors LLC grew its position in Ameriprise Financial by 8.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 892 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 73 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMP shares. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced 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 objective 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. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $494.89.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction 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 sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on 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 trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $551.61 on Monday. Ameriprise Financial, Inc. has a 1 year low of $369.29 and a 1 year high of $577.00. 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 stock has a market capitalization of $53.51 billion, a PE ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. The company’s 50 day simple moving average is $548.42 and its two-hundred day simple moving average is $489.37.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend 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.