Oak Ridge Investments LLC Invests $393,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Oak Ridge Investments LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 738 shares of the financial services provider's stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider's stock worth $1,222,943,000 after purchasing an additional 31,158 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock worth $351,685,000 after purchasing an additional 11,060 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock worth $195,894,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Ameriprise Financial by 1.6% in the second quarter. Bank of Montreal Can now owns 320,827 shares of the financial services provider's stock valued at $141,405,000 after buying an additional 4,968 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP stock traded up $5.18 on Monday, hitting $551.61. The company's stock had a trading volume of 941,468 shares, compared to its average volume of 394,304. Ameriprise Financial, Inc. has a 1 year low of $369.29 and a 1 year high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The firm has a 50 day moving average of $548.42 and a two-hundred day moving average of $489.76.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Analyst Ratings Changes

Several research firms have recently issued reports on AMP. Royal Bank of Canada upped 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. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating for the company in a report on Friday, January 10th. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Morgan Stanley increased 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $494.89.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 over the last quarter. 0.96% of the stock is currently owned by insiders.

About Ameriprise Financial

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.