Baker Tilly Wealth Management LLC Sells 316 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Baker Tilly Wealth Management LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 38.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513 shares of the financial services provider’s stock after selling 316 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Ameriprise Financial were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Retirement Group LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. raised its position in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC grew its stake in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent analyst reports. 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. UBS Group lifted 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. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. 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, Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $482.11.

Ameriprise Financial Stock Performance

AMP opened at $513.30 on Tuesday. The firm has a 50 day moving average of $468.79 and a two-hundred day moving average of $440.80. The firm has a market capitalization of $50.98 billion, a PE ratio of 17.47, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $311.11 and a 12-month high of $524.89.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.