Janney Montgomery Scott LLC Buys 5,271 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Janney Montgomery Scott LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 26.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,243 shares of the financial services provider's stock after purchasing an additional 5,271 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ameriprise Financial were worth $11,859,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $26,000. Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the second 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. Bank & Trust Co bought a new stake in shares of Ameriprise Financial in the second quarter worth about $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Ameriprise Financial in the second quarter worth about $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company'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 directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Davies sold 8,700 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company's stock.

Ameriprise Financial Trading Down 3.4 %

Shares of AMP stock traded down $19.56 during trading hours on Thursday, reaching $547.87. 469,069 shares of the stock were exchanged, compared to its average volume of 399,413. The firm has a market capitalization of $53.15 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $330.51 and a 12-month high of $569.47. The company's 50-day moving average price is $480.29 and its 200-day moving average price is $445.82. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. The Goldman Sachs Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price objective 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. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $487.67.

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.