Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,611 shares of the financial services provider’s stock after selling 150 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Ameriprise Financial were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 20 shares in the last quarter. Ledyard National Bank increased its position in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares in the last quarter. Heartland Bank & Trust Co increased its position in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, 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 value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Price Performance

NYSE AMP opened at $574.12 on Wednesday. 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 stock has a market capitalization of $55.70 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The company has a 50 day moving average price of $514.51 and a two-hundred day moving average price of $460.28. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $577.00.

Ameriprise Financial Dividend Announcement

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

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.