Quest Partners LLC Buys 1,718 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Quest Partners LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 40.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,997 shares of the financial services provider’s stock after buying an additional 1,718 shares during the period. Quest Partners LLC’s holdings in Ameriprise Financial were worth $2,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new stake in Ameriprise Financial in the first quarter valued at about $108,938,000. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at approximately $98,742,000. AGF Management Ltd. boosted its stake in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Ameriprise Financial during the 3rd quarter valued at approximately $456,890,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock worth $15,829,445. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised their price target 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. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of 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, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Trading Up 0.2 %

Shares of AMP stock opened at $562.44 on Monday. The stock has a 50 day simple moving average of $496.55 and a 200-day simple moving average of $453.22. Ameriprise Financial, Inc. has a 1-year low of $342.96 and a 1-year high of $569.47. The company has a market cap of $54.56 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s payout ratio is currently 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.