Graypoint LLC Sells 51 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Graypoint LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,784 shares of the financial services provider’s stock after selling 51 shares during the period. Graypoint LLC’s holdings in Ameriprise Financial were worth $1,482,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bridgewater Associates LP raised its stake in shares of Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares during the period. Empowered Funds LLC raised its stake in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares during the period. SpiderRock Advisors LLC raised its stake in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after purchasing an additional 1,867 shares during the period. Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $458,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Ameriprise Financial by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock worth $8,725,000 after acquiring an additional 1,191 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $494.89.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 3.5 %

AMP stock opened at $516.44 on Friday. 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 firm has a market capitalization of $50.10 billion, a PE ratio of 19.82, a PEG ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The stock has a 50-day simple moving average of $548.56 and a two-hundred day simple moving average of $485.34.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio 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.