Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) CFO Sells 8,655 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ameriprise Financial Trading Up 0.3 %

NYSE:AMP opened at $561.54 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $342.20 and a fifty-two week high of $569.47. 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 capitalization of $54.47 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The business’s 50-day simple moving average is $491.47 and its 200-day simple moving average is $450.87.

Ameriprise Financial Announces Dividend

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

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc raised its position in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after buying an additional 11,060 shares during the last quarter. AGF Management Ltd. raised its position in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in Ameriprise Financial by 3.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock valued at $195,894,000 after buying an additional 17,312 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised 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. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.