1,080 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by B&L Asset Management LLC

B&L Asset Management LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,080 shares of the financial services provider's stock, valued at approximately $507,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC boosted its stake in shares of 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 raised its holdings in Ameriprise Financial by 3.2% in 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 period. Heartland Bank & Trust Co boosted its position in Ameriprise Financial by 0.9% during the second 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 in the last quarter. Great Valley Advisor Group Inc. grew its holdings in Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 24 shares during the period. Finally, Portside Wealth Group LLC increased its position in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock valued at $298,000 after buying an additional 25 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value 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 approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last three months. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Up 0.4 %

NYSE:AMP traded up $2.06 during trading hours on Friday, reaching $573.97. 214,024 shares of the stock were exchanged, compared to its average volume of 468,561. Ameriprise Financial, Inc. has a twelve month low of $347.74 and a twelve month high of $577.00. The business has a 50-day moving average of $521.35 and a two-hundred day moving average of $463.00. The company has a market capitalization of $55.68 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.00 and a beta of 1.34. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio (DPR) is 22.73%.

Wall Street Analysts Forecast Growth

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

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.