First Business Financial Services Inc. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,910 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. First Business Financial Services Inc.’s holdings in Ameriprise Financial were worth $722,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Buckingham Capital Management Inc. boosted its position in shares of Ameriprise Financial by 3.6% in the first quarter. Buckingham Capital Management Inc. now owns 10,820 shares of the financial services provider’s stock worth $1,386,000 after purchasing an additional 375 shares during the period. Park National Corp OH purchased a new stake in Ameriprise Financial during the second quarter valued at $206,000. Montecito Bank & Trust raised its stake in Ameriprise Financial by 14.0% during the second quarter. Montecito Bank & Trust now owns 3,927 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 481 shares in the last quarter. KAMES CAPITAL plc raised its stake in Ameriprise Financial by 63.7% during the second quarter. KAMES CAPITAL plc now owns 12,356 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 4,809 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Ameriprise Financial during the second quarter valued at $848,000. Institutional investors own 82.72% of the company’s stock.
Shares of NYSE AMP traded up $0.80 during mid-day trading on Friday, reaching $158.54. The company had a trading volume of 847,458 shares, compared to its average volume of 961,385. The business’s 50-day moving average is $144.96 and its 200-day moving average is $143.06. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 10.61 and a beta of 1.85. Ameriprise Financial, Inc. has a 52 week low of $95.69 and a 52 week high of $160.63.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, November 1st. Ameriprise Financial’s payout ratio is presently 25.97%.
In other Ameriprise Financial news, insider John Robert Woerner sold 6,477 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $154.13, for a total transaction of $998,300.01. Following the transaction, the insider now directly owns 27,196 shares in the company, valued at approximately $4,191,719.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 16th. ValuEngine cut shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Citigroup cut their price objective on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada set a $145.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Morgan Stanley cut their price target on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $173.00.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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