1776 Wealth LLC Has $656,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

1776 Wealth LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,396 shares of the financial services provider’s stock after selling 114 shares during the period. 1776 Wealth LLC’s holdings in Ameriprise Financial were worth $656,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BDF Gestion acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Capital World Investors lifted its stake in shares of Ameriprise Financial by 95.0% in the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after buying an additional 32,930 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after buying an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after buying an additional 5,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Ameriprise Financial by 390.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after acquiring an additional 45,420 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.90 during mid-day trading on Friday, reaching $562.44. The company had a trading volume of 730,105 shares, compared to its average volume of 470,965. Ameriprise Financial, Inc. has a twelve month low of $342.96 and a twelve month high of $569.47. 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 company’s 50-day moving average is $496.55 and its 200-day moving average is $452.66. The company has a market capitalization of $54.57 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.97 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,415 shares of company stock valued at $15,829,445. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. 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 report on Thursday, October 17th. UBS Group raised their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.