Captrust Financial Advisors Sells 438 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Captrust Financial Advisors trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 152,303 shares of the financial services provider’s stock after selling 438 shares during the period. Captrust Financial Advisors’ holdings in Ameriprise Financial were worth $71,553,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BDF Gestion bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $2,836,000. Cetera Investment Advisers lifted its stake in shares of Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after purchasing an additional 5,692 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Ameriprise Financial by 390.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock valued at $24,375,000 after purchasing an additional 45,420 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value 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 trade represents a 33.24 % 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 valued at $11,983,436 over the last ninety days. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Down 0.4 %

Shares of Ameriprise Financial stock opened at $571.91 on Friday. 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 has a market cap of $55.48 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.00 and a beta of 1.34. The firm’s 50-day moving average is $519.09 and its two-hundred day moving average is $461.83. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $577.00.

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 paid 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 dividend yield of 1.04%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target 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 lifted 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. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $487.67.

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.