Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,620 shares of the financial services provider's stock after buying an additional 1,648 shares during the quarter. Van ECK Associates Corp's holdings in Ameriprise Financial were worth $8,650,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Ledyard National Bank lifted its position 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 valued at $344,000 after acquiring an additional 23 shares in the last quarter. Heartland Bank & Trust Co grew its position in 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 valued at $1,177,000 after acquiring an additional 24 shares during the period. Portside Wealth Group LLC increased its position in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock worth $298,000 after acquiring an additional 25 shares in the last quarter. Signaturefd LLC boosted its position in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider's stock worth $1,007,000 after buying an additional 26 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider's stock worth $1,606,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP traded down $17.24 on Thursday, hitting $550.19. The stock had a trading volume of 254,071 shares, compared to its average volume of 469,128. The company's 50-day moving average is $480.29 and its two-hundred day moving average is $445.82. The stock has a market cap of $53.38 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a one year low of $330.51 and a one year high of $569.47.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company's stock, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The stock was 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 of the company's stock, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada lifted 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. The Goldman Sachs Group cut 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 research note on Thursday, September 26th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Finally, UBS Group lifted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.