Kingsview Wealth Management LLC Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Kingsview Wealth Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,857 shares of the financial services provider’s stock after buying an additional 49 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% in the second 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 acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $26,000. Mascoma Wealth Management LLC grew its stake in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the period. Bank & Trust Co acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $29,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at approximately $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.7 %

Shares of AMP opened at $574.12 on Wednesday. The company’s 50-day simple moving average is $514.51 and its 200-day simple moving average is $460.28. 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 1 year low of $345.43 and a 1 year high of $577.00. The stock has a market capitalization of $55.70 billion, a PE ratio of 22.04, a P/E/G ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Royal Bank of Canada increased 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. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group downgraded 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. Morgan Stanley upped 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 report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $487.67.

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.