Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Valmark Advisers Inc.

Valmark Advisers Inc. increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 45.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 856 shares of the financial services provider’s stock after purchasing an additional 269 shares during the quarter. Valmark Advisers Inc.’s holdings in Ameriprise Financial were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. abrdn plc boosted its holdings in shares of Ameriprise Financial by 7.7% in the 3rd quarter. abrdn plc now owns 91,204 shares of the financial services provider’s stock valued at $42,610,000 after buying an additional 6,544 shares during the period. Smith Group Asset Management LLC lifted its holdings in Ameriprise Financial by 3.0% in the third quarter. Smith Group Asset Management LLC now owns 69,601 shares of the financial services provider’s stock worth $32,699,000 after acquiring an additional 2,034 shares during the last quarter. Orrstown Financial Services Inc. acquired a new position in Ameriprise Financial in the third quarter valued at approximately $201,000. Old Port Advisors grew its holdings in shares of Ameriprise Financial by 2.7% during the third quarter. Old Port Advisors now owns 1,351 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 35 shares during the last quarter. Finally, TCI Wealth Advisors Inc. acquired a new position in Ameriprise Financial during the 3rd quarter valued at approximately $220,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $510.30 on Friday. Ameriprise Financial, Inc. has a 1-year low of $311.11 and a 1-year high of $524.89. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The business has a 50 day moving average price of $473.59 and a two-hundred day moving average price of $442.50. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. 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 research report on Friday, October 25th. UBS Group lifted 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. Finally, 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 report on Thursday, October 17th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $487.67.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm’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 completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.96% of the stock is owned by company insiders.

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.