Benjamin Edwards Inc. Acquires 1,085 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Benjamin Edwards Inc. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,261.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,171 shares of the financial services provider's stock after purchasing an additional 1,085 shares during the period. Benjamin Edwards Inc.'s holdings in Ameriprise Financial were worth $550,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. raised its position in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the 2nd quarter worth $26,000. Mascoma Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial during the second quarter worth $29,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial in the third quarter valued at about $31,000. Institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMP. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their target price on 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, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $487.67.

Ameriprise Financial Price Performance

Shares of AMP traded down $7.72 during trading hours on Monday, reaching $553.83. The stock had a trading volume of 597,231 shares, compared to its average volume of 470,981. Ameriprise Financial, Inc. has a 12 month low of $358.89 and a 12 month high of $577.00. The company's 50-day moving average is $532.92 and its two-hundred day moving average is $468.55. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $53.73 billion, a PE ratio of 21.26, a PEG 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. This represents a $5.92 annualized dividend 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%.

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction that occurred 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 position. 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. Insiders own 0.96% of the company's stock.

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.