Prospera Private Wealth LLC Takes $4.14 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Prospera Private Wealth LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,821 shares of the financial services provider's stock, valued at approximately $4,144,000.

A number of other hedge funds have also made changes to their positions in AMP. Legacy Capital Wealth Partners LLC increased its stake in Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock valued at $480,000 after buying an additional 20 shares during the period. Ledyard National Bank increased its stake in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after acquiring an additional 23 shares during the last quarter. Heartland Bank & Trust Co raised its holdings in shares of 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 acquiring an additional 24 shares in the last quarter. Portside Wealth Group LLC boosted its position in Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock valued at $298,000 after purchasing an additional 25 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider's stock valued at $1,606,000 after purchasing an additional 26 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company's stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.96% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded down $3.39 during trading hours on Wednesday, hitting $559.17. 82,101 shares of the company's stock were exchanged, compared to its average volume of 468,940. The stock has a market capitalization of $54.25 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. The company's 50-day moving average price is $501.69 and its 200-day moving average price is $455.28. 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, Inc. has a 1-year low of $345.43 and a 1-year high of $569.47.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 1.06%. Ameriprise Financial's dividend payout ratio is 22.73%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. 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 research note on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.