Brown Financial Advisors Sells 790 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Brown Financial Advisors lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 46.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 898 shares of the financial services provider’s stock after selling 790 shares during the period. Brown Financial Advisors’ holdings in Ameriprise Financial were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. lifted its position in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the second quarter valued at about $26,000. Mascoma Wealth Management LLC lifted its position in shares of 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 acquiring an additional 40 shares in the last quarter. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the third quarter valued at about $31,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Ameriprise Financial in the second quarter valued at about $29,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $487.67.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the company’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 transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following 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. Over the last 90 days, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 1.4 %

Shares of AMP stock opened at $546.23 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $358.89 and a 1 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 stock’s 50 day simple moving average is $532.92 and its two-hundred day simple moving average is $468.55. The company has a market cap of $52.99 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 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.