M.E. Allison & CO. Inc. Invests $375,000 in Ameriprise Financial, Inc. (NYSE:AMP)

M.E. Allison & CO. Inc. purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 705 shares of the financial services provider's stock, valued at approximately $375,000.

A number of other hedge funds also recently bought and sold shares of AMP. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter worth about $31,000. Country Trust Bank lifted its stake in Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 47 shares during the period. Peterson Financial Group Inc. bought a new position in Ameriprise Financial during the 3rd quarter valued at about $45,000. Friedenthal Financial bought a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $58,000. Finally, Trifecta Capital Advisors LLC grew its stake in shares of Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider's stock worth $65,000 after acquiring an additional 33 shares during the period. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded up $5.18 during midday trading on Monday, hitting $551.61. The company's stock had a trading volume of 941,468 shares, compared to its average volume of 394,304. 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, Inc. has a 12 month low of $369.29 and a 12 month high of $577.00. The company has a 50 day moving average of $548.42 and a two-hundred day moving average of $489.76. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $494.89.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company's stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred 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 $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company 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.