Deseret Mutual Benefit Administrators Buys 110 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Deseret Mutual Benefit Administrators lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 549 shares of the financial services provider’s stock after acquiring an additional 110 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Ameriprise Financial were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. boosted its position in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the 2nd quarter worth $26,000. Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Bank & Trust Co bought a new stake in Ameriprise Financial during the second quarter valued at about $29,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the third quarter valued at about $31,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMP. Royal Bank of Canada increased their target price on 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 research report on Thursday, October 17th. UBS Group upped their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction 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 transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred 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 owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred 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 directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Up 0.6 %

Shares of NYSE AMP opened at $571.00 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $330.51 and a 1-year high of $571.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.59. The business’s 50 day moving average is $480.29 and its two-hundred day moving average is $445.82. The stock has a market capitalization of $55.40 billion, a P/E ratio of 21.78, a PEG ratio of 0.88 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.04%. Ameriprise Financial’s payout ratio is presently 22.73%.

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.