Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,492 shares of the financial services provider’s stock after selling 418 shares during the quarter. Retirement Systems of Alabama’s holdings in Ameriprise Financial were worth $10,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geller Advisors LLC boosted its position in shares of Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after buying an additional 19 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 20 shares in the last quarter. Ledyard National Bank boosted its position in Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares during the period. Heartland Bank & Trust Co grew its stake in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 24 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Ameriprise Financial by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 24 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. 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 report on Friday, October 25th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 over the last three months. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $550.12 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00. The business’s fifty day moving average is $539.80 and its two-hundred day moving average is $472.56. The stock has a market capitalization of $53.37 billion, a P/E ratio of 21.12, a P/E/G ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 4th. 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.