Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,285,476 shares of the financial services provider's stock after acquiring an additional 358,699 shares during the period. JPMorgan Chase & Co. owned about 4.42% of Ameriprise Financial worth $2,013,359,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMP. Geller Advisors LLC increased its holdings in 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 acquiring an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in shares of 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 worth $480,000 after purchasing an additional 20 shares in the last quarter. Ledyard National Bank raised its position in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after purchasing an additional 23 shares during the last quarter. Heartland Bank & Trust Co raised its position in shares of Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider's stock worth $1,177,000 after purchasing an additional 24 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider's stock valued at $470,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMP shares. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. 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 research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and a consensus price target of $487.67.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company's stock, 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. Over the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is owned by insiders.

Ameriprise Financial Trading Down 1.2 %

NYSE:AMP traded down $6.44 during trading hours on Friday, reaching $535.95. 308,298 shares of the company were exchanged, compared to its average volume of 473,218. The firm has a market cap of $52.00 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 0.96 and a beta of 1.34. The stock has a 50 day simple moving average of $545.09 and a 200 day simple moving average of $478.59. Ameriprise Financial, Inc. has a 52-week low of $368.41 and a 52-week high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Dividend Announcement

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

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.