Copley Financial Group Inc. Purchases Shares of 993 Ameriprise Financial, Inc. (NYSE:AMP)

Copley Financial Group Inc. acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 993 shares of the financial services provider’s stock, valued at approximately $467,000.

Several other large investors also recently made changes to their positions in the stock. DiNuzzo Private Wealth Inc. lifted its stake in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $26,000. Mascoma Wealth Management LLC lifted its stake in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Oakworth Capital Inc. bought a new position in Ameriprise Financial during the third quarter worth about $31,000. Finally, Hantz Financial Services Inc. acquired a new position in Ameriprise Financial during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP traded up $0.75 during trading on Friday, reaching $548.58. The company’s stock had a trading volume of 21,782 shares, compared to its average volume of 469,331. The firm has a 50 day moving average price of $537.15 and a 200 day moving average price of $470.40. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00. The firm has a market capitalization of $53.22 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on shares of 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 target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target 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. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $487.67.

About Ameriprise Financial

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.