442 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 442 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. lifted its stake in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in Ameriprise Financial during the second quarter worth about $26,000. Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the period. Bank & Trust Co bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $29,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 0.3 %

Shares of Ameriprise Financial stock opened at $572.07 on Monday. The firm has a market cap of $55.50 billion, a PE ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34. The business’s 50 day simple moving average is $509.57 and its 200 day simple moving average is $458.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $575.37.

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 issued a $1.48 dividend. 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 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

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.