Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,285,476 shares of the financial services provider’s stock after buying an additional 358,699 shares during the quarter. JPMorgan Chase & Co. owned 4.42% of Ameriprise Financial worth $2,013,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bridgewater Associates LP increased its position in shares of Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after buying an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its holdings in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC raised its position in Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 1,867 shares during the last quarter. Aljian Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ameriprise Financial by 6.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock valued at $8,725,000 after purchasing an additional 1,191 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $542.39 on Friday. The company has a market cap of $52.62 billion, a P/E ratio of 20.82, a P/E/G ratio of 0.96 and a beta of 1.34. The firm’s 50 day moving average is $544.84 and its two-hundred day moving average is $477.84. Ameriprise Financial, Inc. has a fifty-two week low of $368.41 and a fifty-two week high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

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. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other 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 value of $4,882,804.80. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMP. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group lifted their price target 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Company 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.