FORA Capital LLC Has $2.75 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

FORA Capital LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 47.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,852 shares of the financial services provider’s stock after selling 5,368 shares during the quarter. FORA Capital LLC’s holdings in Ameriprise Financial were worth $2,749,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. 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 buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC boosted its stake in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Bank & Trust Co acquired a new stake in Ameriprise Financial in the second quarter worth $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in Ameriprise Financial in the second quarter worth $29,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP stock traded up $2.14 during mid-day trading on Wednesday, reaching $576.15. 15,983 shares of the company traded hands, compared to its average volume of 470,417. The company has a fifty day moving average price of $514.51 and a 200-day moving average price of $460.28. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $577.00. The company has a market capitalization of $55.89 billion, a P/E ratio of 22.04, a P/E/G ratio of 0.99 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMP. 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 report on Tuesday, October 8th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $487.67.

Insiders Place Their Bets

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 39.73 % 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. 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock worth $15,829,445 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

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.