Gateway Investment Advisers LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,071 shares of the financial services provider’s stock after selling 42 shares during the period. Gateway Investment Advisers LLC’s holdings in Ameriprise Financial were worth $1,103,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Geller Advisors LLC lifted its position in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after buying an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position in Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares during the last quarter. Ledyard National Bank increased its position in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 23 shares during the last quarter. Heartland Bank & Trust Co raised its position in Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. Finally, Great Valley Advisor Group Inc. grew its position in shares of Ameriprise Financial by 2.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 24 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AMP has been the topic of several research analyst reports. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley increased their target price 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. Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $494.89.
View Our Latest Report on AMP
Ameriprise Financial Trading Up 0.9 %
NYSE:AMP opened at $551.61 on Friday. Ameriprise Financial, Inc. has a 12 month low of $369.29 and a 12 month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $548.42 and a 200-day moving average price of $488.98. The stock has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 1.07%. Ameriprise Financial’s payout ratio is presently 22.73%.
Insider Transactions at Ameriprise Financial
In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of the 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. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last quarter. 0.96% of the stock is owned by insiders.
About Ameriprise Financial
(Free Report)
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.
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