Pitcairn Co. Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Pitcairn Co. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,826 shares of the financial services provider’s stock after selling 343 shares during the quarter. Pitcairn Co.’s holdings in Ameriprise Financial were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AMP. CreativeOne Wealth LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at approximately $301,000. Advisors Asset Management Inc. grew its holdings in Ameriprise Financial by 29.9% during the 1st quarter. Advisors Asset Management Inc. now owns 1,585 shares of the financial services provider’s stock valued at $695,000 after buying an additional 365 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Ameriprise Financial by 3.9% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,460 shares of the financial services provider’s stock valued at $1,956,000 after buying an additional 166 shares in the last quarter. SVB Wealth LLC grew its holdings in Ameriprise Financial by 2.4% during the 1st quarter. SVB Wealth LLC now owns 8,662 shares of the financial services provider’s stock valued at $3,798,000 after buying an additional 201 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Ameriprise Financial in the first quarter valued at $1,195,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.3 %

Shares of AMP opened at $572.07 on Friday. The company has a market cap of $55.50 billion, a PE ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34. The business has a fifty day moving average of $509.57 and a 200 day moving average of $458.07. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $575.37. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $487.67.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction 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 sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction 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 owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by insiders.

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.