Birchcreek Wealth Management LLC Sells 119 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Birchcreek Wealth Management LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.1% during the third quarter, HoldingsChannel reports. The fund owned 538 shares of the financial services provider’s stock after selling 119 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Ameriprise Financial were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in AMP. BDF Gestion bought a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. Capital World Investors grew its stake in shares of Ameriprise Financial by 95.0% in the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after acquiring an additional 32,930 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Ameriprise Financial by 335.6% during the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after buying an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Ameriprise Financial by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after purchasing an additional 5,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Ameriprise Financial by 390.2% during the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock valued at $24,375,000 after acquiring an additional 45,420 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMP shares. The Goldman Sachs Group cut 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 research note on Thursday, September 26th. UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price 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. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Stock Up 0.8 %

AMP stock traded up $4.56 during midday trading on Friday, hitting $566.10. The company’s stock had a trading volume of 61,510 shares, compared to its average volume of 467,966. The firm has a market capitalization of $54.92 billion, a P/E ratio of 21.74, a PEG ratio of 0.97 and a beta of 1.34. The firm has a 50-day simple moving average of $493.91 and a 200-day simple moving average of $451.64. Ameriprise Financial, Inc. has a 52-week low of $342.96 and a 52-week high of $569.47. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by company insiders.

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.