Aureus Asset Management LLC Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Aureus Asset Management LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 432 shares of the financial services provider’s stock after selling 38 shares during the quarter. Aureus Asset Management LLC’s holdings in Ameriprise Financial were worth $203,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC lifted its stake in 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 purchasing an additional 20 shares during the last quarter. Ledyard National Bank raised its holdings 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 buying an additional 23 shares during the period. Heartland Bank & Trust Co lifted its stake in shares of Ameriprise Financial by 0.9% during the 2nd 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 during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Ameriprise Financial by 2.5% during the 3rd 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 during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The stock was 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. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last ninety days. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. 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 research note on Friday, October 25th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley boosted their target price 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, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $565.25 on Tuesday. The company has a market cap of $54.84 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.00 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $349.90 and a twelve month high of $577.00. The company’s 50-day moving average price is $523.42 and its 200-day moving average price is $464.08. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

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 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.