Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lifted by Cavalier Investments LLC

Cavalier Investments LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,617 shares of the financial services provider’s stock after purchasing an additional 138 shares during the period. Cavalier Investments LLC’s holdings in Ameriprise Financial were worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Ameriprise Financial by 268.8% in the 2nd 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 last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $482.11.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial 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 completion of the sale, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $504.48 on Monday. The stock has a market cap of $50.11 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The business has a fifty day simple moving average of $467.23 and a 200-day simple moving average of $440.16. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12 month low of $307.57 and a 12 month high of $524.89.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.