Walter Stanley Berman Sells 8,655 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $561.54 on Friday. Ameriprise Financial, Inc. has a twelve month low of $342.20 and a twelve month high of $569.47. The firm has a market cap of $54.47 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The business has a fifty day moving average of $491.47 and a 200-day moving average of $450.87.

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 paid a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMP. UBS Group upped their target price 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 upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley increased their price objective 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. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $487.67.

Institutional Trading of Ameriprise Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in AMP. Empowered Funds LLC increased its stake in shares of Ameriprise Financial by 13.7% in the first quarter. Empowered Funds LLC now owns 3,621 shares of the financial services provider’s stock valued at $1,588,000 after buying an additional 436 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Ameriprise Financial in the first quarter valued at about $570,000. Atomi Financial Group Inc. bought a new position in Ameriprise Financial in the first quarter valued at about $207,000. Concurrent Investment Advisors LLC bought a new position in Ameriprise Financial in the first quarter valued at about $217,000. Finally, Bleakley Financial Group LLC boosted its holdings in Ameriprise Financial by 2.9% in the first quarter. Bleakley Financial Group LLC now owns 2,758 shares of the financial services provider’s stock valued at $1,209,000 after acquiring an additional 77 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.