Sanctuary Advisors LLC Has $7.65 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Sanctuary Advisors LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,286 shares of the financial services provider’s stock after buying an additional 660 shares during the period. Sanctuary Advisors LLC’s holdings in Ameriprise Financial were worth $7,651,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

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

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 0.4 %

NYSE AMP opened at $549.76 on Friday. The firm has a market capitalization of $53.33 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The business’s 50-day moving average price is $538.41 and its two-hundred day moving average price is $471.41. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 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.