Orion Portfolio Solutions LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Orion Portfolio Solutions LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,449 shares of the financial services provider's stock after purchasing an additional 961 shares during the period. Orion Portfolio Solutions LLC's holdings in Ameriprise Financial were worth $3,969,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMP. DiNuzzo Private Wealth Inc. increased its holdings 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 acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC increased its holdings in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $29,000. Finally, Oakworth Capital Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $31,000. Institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMP shares. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. 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 report on Friday, October 25th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods increased their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $487.67.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on 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 sale, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This trade 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 worth $11,983,436 over the last three months. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $7.60 during midday trading on Tuesday, reaching $546.23. 493,451 shares of the stock traded hands, compared to its average volume of 471,077. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $52.99 billion, a PE ratio of 20.97, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a one year low of $358.89 and a one year high of $577.00. The company's 50 day moving average is $532.92 and its 200 day moving average is $468.55.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial's dividend payout ratio is presently 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.