995 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 995 shares of the financial services provider's stock, valued at approximately $530,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Oakworth Capital Inc. bought a new stake in Ameriprise Financial during the third quarter worth about $31,000. Country Trust Bank increased its position in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider's stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $45,000. Friedenthal Financial acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $58,000. Finally, Trifecta Capital Advisors LLC grew its stake in shares of Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider's stock valued at $65,000 after buying an additional 33 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMP. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley raised their price objective on 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 decreased their target price on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $494.89.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business'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 sale, the insider now 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 ownership of the stock. 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. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $5.18 on Friday, hitting $551.61. The stock had a trading volume of 941,468 shares, compared to its average volume of 394,304. 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 business's 50 day moving average is $548.42 and its two-hundred day moving average is $489.37. 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, Inc. has a twelve month low of $369.29 and a twelve month high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's payout ratio is 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.