Accurate Wealth Management LLC Has $2.86 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Accurate Wealth Management LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,067.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,545 shares of the financial services provider's stock after acquiring an additional 5,070 shares during the period. Accurate Wealth Management LLC's holdings in Ameriprise Financial were worth $2,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMP. Geller Advisors LLC boosted its position in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its position in Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after buying an additional 20 shares during the last quarter. Ledyard National Bank grew its position in Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after buying an additional 23 shares during the last quarter. Heartland Bank & Trust Co increased its holdings in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider's stock valued at $1,177,000 after buying an additional 24 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Ameriprise Financial by 2.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 2.2 %

Shares of NYSE:AMP traded up $11.72 during trading on Wednesday, reaching $538.39. 323,662 shares of the company traded hands, compared to its average volume of 399,766. The firm has a fifty day simple moving average of $549.04 and a 200 day simple moving average of $487.35. 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 1-year low of $368.41 and a 1-year high of $577.00. The firm has a market cap of $52.23 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial's dividend payout ratio (DPR) is currently 22.73%.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the firm's 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 transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a research report on Friday, January 10th. 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 report on Thursday, September 26th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $494.89.

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.