Transamerica Financial Advisors Inc. Sells 150 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Transamerica Financial Advisors Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the third quarter, HoldingsChannel reports. The fund owned 1,611 shares of the financial services provider’s stock after selling 150 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Ameriprise Financial were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BDF Gestion bought a new stake in Ameriprise Financial in the 2nd quarter valued at $2,836,000. Cetera Investment Advisers boosted its stake in shares of Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after buying an additional 45,420 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

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

Ameriprise Financial Stock Up 0.7 %

AMP stock opened at $574.12 on Wednesday. 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 company has a market cap of $55.70 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The business has a 50-day simple moving average of $514.51 and a 200 day simple moving average of $460.28. Ameriprise Financial, Inc. has a 52 week low of $345.43 and a 52 week high of $577.00.

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 over the last three months. Insiders own 0.96% of the company’s stock.

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.