Ameriprise Financial, Inc. (NYSE:AMP) Insider Sells $1,199,816.25 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on 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 $2,409,437.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ameriprise Financial Price Performance

AMP traded down $0.59 during trading on Monday, reaching $506.59. 369,307 shares of the company traded hands, compared to its average volume of 469,408. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 12-month low of $329.16 and a 12-month high of $524.89. The firm has a fifty day simple moving average of $474.94 and a 200 day simple moving average of $443.62. The company has a market cap of $49.74 billion, a P/E ratio of 19.38, a PEG ratio of 0.89 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kennebec Savings Bank purchased a new position in shares of Ameriprise Financial in the third quarter valued at $1,910,000. Ashton Thomas Securities LLC purchased a new position in shares of Ameriprise Financial in the third quarter valued at $107,000. Los Angeles Capital Management LLC increased its position in Ameriprise Financial by 4,961.1% during the third quarter. Los Angeles Capital Management LLC now owns 32,239 shares of the financial services provider’s stock valued at $15,146,000 after acquiring an additional 31,602 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its position in Ameriprise Financial by 2.0% during the third 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 during the last quarter. Finally, Field & Main Bank increased its position in Ameriprise Financial by 10.9% during the third quarter. Field & Main Bank now owns 305 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 30 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. 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. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lowered shares of 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. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, UBS Group increased their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.