Quest Partners LLC Purchases 1,718 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Quest Partners LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 40.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,997 shares of the financial services provider's stock after purchasing an additional 1,718 shares during the quarter. Quest Partners LLC's holdings in Ameriprise Financial were worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock valued at $482,588,000 after acquiring an additional 110,319 shares during the period. Legal & General Group Plc raised its stake in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock valued at $351,685,000 after purchasing an additional 11,060 shares during the period. AGF Management Ltd. lifted its holdings in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Ameriprise Financial by 3.9% in the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock worth $195,894,000 after buying an additional 17,312 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Ameriprise Financial by 25.3% during the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider's stock valued at $182,831,000 after buying an additional 86,315 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. UBS Group upped their price objective 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. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $487.67.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, 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 have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.5 %

Shares of AMP traded up $2.71 during trading hours on Monday, hitting $565.15. 533,806 shares of the company were exchanged, compared to its average volume of 471,260. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $54.83 billion, a PE ratio of 21.69, a PEG ratio of 0.98 and a beta of 1.34. The firm's 50 day moving average is $499.13 and its 200-day moving average is $454.27. Ameriprise Financial, Inc. has a 52 week low of $343.98 and a 52 week high of $569.47.

Ameriprise Financial Announces Dividend

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 dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

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.