Park Avenue Securities LLC Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Park Avenue Securities LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,791 shares of the financial services provider's stock after purchasing an additional 4,075 shares during the quarter. Park Avenue Securities LLC's holdings in Ameriprise Financial were worth $11,602,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $31,000. Country Trust Bank lifted its stake in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider's stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial during the third quarter worth $45,000. Friedenthal Financial acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $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 valued at $65,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 2.1 %

Shares of AMP traded up $10.97 during midday trading on Wednesday, reaching $537.64. The stock had a trading volume of 549,830 shares, compared to its average volume of 426,303. The company has a market cap of $52.16 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.96 and a beta of 1.36. The company's fifty day simple moving average is $549.04 and its two-hundred day simple moving average is $487.35. Ameriprise Financial, Inc. has a 1-year low of $368.41 and a 1-year high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio is presently 22.73%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 in the last ninety days. Insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada increased 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. Morgan Stanley lifted 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. 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $494.89.

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.