Aljian Capital Management LLC Makes New $458,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Aljian Capital Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 976 shares of the financial services provider's stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Legacy Capital Wealth Partners LLC lifted its stake in Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock valued at $480,000 after acquiring an additional 20 shares during the period. Ledyard National Bank lifted its position in Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 23 shares during the period. Heartland Bank & Trust Co boosted its holdings in 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 purchasing an additional 24 shares during the last quarter. Portside Wealth Group LLC grew its position in Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock worth $298,000 after purchasing an additional 25 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider's stock valued at $1,606,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.5 %

Shares of NYSE:AMP traded up $2.71 during mid-day trading on Monday, reaching $565.15. 533,806 shares of the company were exchanged, compared to its average volume of 471,260. Ameriprise Financial, Inc. has a 1 year low of $343.98 and a 1 year high of $569.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50-day simple moving average is $499.13 and its 200 day simple moving average is $454.27. The firm has a market cap of $54.83 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 1.05%. Ameriprise Financial's payout ratio is presently 22.73%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMP shares. Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given 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 price target of $487.67.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company's stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock valued at $15,829,445. Corporate insiders own 0.73% of the company's stock.

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.