Bank of Montreal Can Has $149.89 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Bank of Montreal Can trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,851 shares of the financial services provider’s stock after selling 976 shares during the period. Bank of Montreal Can owned about 0.33% of Ameriprise Financial worth $149,889,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMP. Private Trust Co. NA grew its holdings in shares of Ameriprise Financial by 21.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 151 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Ameriprise Financial by 4.4% during the third quarter. Hancock Whitney Corp now owns 2,704 shares of the financial services provider’s stock worth $1,270,000 after buying an additional 115 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Ameriprise Financial by 0.7% during the third quarter. Daiwa Securities Group Inc. now owns 12,081 shares of the financial services provider’s stock worth $5,676,000 after buying an additional 85 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Ameriprise Financial by 29.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 825 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 189 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Ameriprise Financial by 1.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 20,968 shares of the financial services provider’s stock worth $9,851,000 after acquiring an additional 362 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP stock opened at $570.67 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market cap of $55.36 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The business’s fifty day moving average is $512.08 and its 200-day moving average is $459.29.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given 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 1.04%. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % 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 ninety days. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMP. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $487.67.

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.