Independent Advisor Alliance Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Independent Advisor Alliance trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,773 shares of the financial services provider’s stock after selling 79 shares during the quarter. Independent Advisor Alliance’s holdings in Ameriprise Financial were worth $2,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BDF Gestion purchased a new stake in shares of Ameriprise Financial in the second quarter worth about $2,836,000. Cetera Investment Advisers increased its position in shares of Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after purchasing an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Ameriprise Financial by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after purchasing an additional 5,692 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Ameriprise Financial by 19.9% in the third 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 last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’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 transaction of $1,199,816.25. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. UBS Group upped 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. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price objective 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. The Goldman Sachs Group cut shares of 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 research report on Thursday, September 26th. Finally, 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 report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Stock Down 0.2 %

Shares of NYSE AMP opened at $570.67 on Tuesday. Ameriprise Financial, Inc. has a one year low of $345.43 and a one year high of $577.00. 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 firm’s 50 day simple moving average is $512.08 and its two-hundred day simple moving average is $459.29. The stock has a market capitalization of $55.36 billion, a P/E ratio of 21.91, a PEG ratio of 1.00 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 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

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.