Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Cut by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,962 shares of the financial services provider’s stock after selling 55 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Ameriprise Financial were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AMP. Swedbank AB bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $108,938,000. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial in the third quarter valued at $98,742,000. AGF Management Ltd. lifted its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $482,588,000 after acquiring an additional 110,319 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $570.67 on Tuesday. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00. The stock’s 50-day moving average is $512.08 and its two-hundred day moving average is $459.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $55.36 billion, a P/E ratio of 21.91, a PEG ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is presently 22.73%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMP. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group upped their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted 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 report 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 report on Thursday, October 17th. Finally, 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. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Company 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.