Castellan Group Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Castellan Group lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,866 shares of the financial services provider’s stock after selling 250 shares during the period. Castellan Group’s holdings in Ameriprise Financial were worth $2,756,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. increased its holdings in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the 2nd quarter worth about $26,000. Mascoma Wealth Management LLC lifted its position in Ameriprise Financial by 153.8% during the 2nd 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 during the period. Oakworth Capital Inc. bought a new stake in Ameriprise Financial during the third quarter worth about $31,000. Finally, Hantz Financial Services Inc. bought a new stake in Ameriprise Financial during the second quarter worth about $29,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group downgraded 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 boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective 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 analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $547.67 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The company’s 50-day moving average price is $537.15 and its 200-day moving average price is $470.40. The company has a market cap of $53.13 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.96 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. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 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.