Hilltop Holdings Inc. Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Hilltop Holdings Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 873.8% in the 3rd quarter, Holdings Channel reports. The firm owned 7,469 shares of the financial services provider’s stock after purchasing an additional 6,702 shares during the period. Hilltop Holdings Inc.’s holdings in Ameriprise Financial were worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial in the second quarter valued at approximately $26,000. Mascoma Wealth Management LLC raised its stake in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial during the second quarter worth $29,000. Finally, Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $565.25 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $523.42 and its 200 day moving average price is $464.08. Ameriprise Financial, Inc. has a 52 week low of $349.90 and a 52 week high of $577.00. The stock has a market cap of $54.84 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.00 and a beta of 1.34.

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%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on 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 sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % 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.

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.