Burney Co. Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Burney Co. trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,012 shares of the financial services provider’s stock after selling 852 shares during the period. Burney Co.’s holdings in Ameriprise Financial were worth $4,798,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ameriprise Financial in the 4th quarter worth about $109,000. Park Avenue Securities LLC boosted its stake in Ameriprise Financial by 23.0% in the 4th quarter. Park Avenue Securities LLC now owns 21,791 shares of the financial services provider’s stock worth $11,602,000 after buying an additional 4,075 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after buying an additional 195,271 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Ameriprise Financial by 8.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,805 shares of the financial services provider’s stock worth $2,026,000 after buying an additional 300 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in Ameriprise Financial by 1,067.4% in the 4th quarter. Accurate Wealth Management LLC now owns 5,545 shares of the financial services provider’s stock worth $2,858,000 after buying an additional 5,070 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $537.64 on Thursday. The company has a market cap of $52.16 billion, a P/E ratio of 20.64, a PEG ratio of 0.96 and a beta of 1.36. 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, Inc. has a one year low of $368.41 and a one year high of $577.00. The business’s 50-day simple moving average is $549.04 and its 200 day simple moving average is $487.35.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial 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 sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial 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.