Nwam LLC Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Nwam LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 502 shares of the financial services provider’s stock after selling 21 shares during the quarter. Nwam LLC’s holdings in Ameriprise Financial were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AMP. Advisors Asset Management Inc. increased its holdings in shares of Ameriprise Financial by 29.9% in the first quarter. Advisors Asset Management Inc. now owns 1,585 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 365 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Ameriprise Financial by 33.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock worth $1,858,000 after acquiring an additional 1,062 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Ameriprise Financial by 9.3% during the 1st quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock worth $1,382,000 after acquiring an additional 268 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of Ameriprise Financial by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 2,049 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 49 shares during the last quarter. Finally, LBP AM SA grew its holdings in shares of Ameriprise Financial by 52.4% in the first quarter. LBP AM SA now owns 5,623 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 1,933 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $570.67 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $512.08 and a 200 day moving average of $459.29. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $577.00. The stock has a market cap of $55.36 billion, a P/E ratio of 21.91, a PEG ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The shares were 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 owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMP. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods increased their price target 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. Royal Bank of Canada boosted their price objective on 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 Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $487.67.

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.