Integrated Wealth Concepts LLC Sells 298 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Integrated Wealth Concepts LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,540 shares of the financial services provider’s stock after selling 298 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ameriprise Financial were worth $1,194,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. boosted its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the 2nd quarter valued at approximately $26,000. Mascoma Wealth Management LLC raised its position in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $31,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $29,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on AMP shares. The Goldman Sachs Group cut 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. Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group upped 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. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % 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, 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 value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 over the last ninety days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $561.55 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $54.48 billion, a P/E ratio of 21.56, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 12 month low of $350.37 and a 12 month high of $577.00. The stock has a 50 day moving average of $531.24 and a 200-day moving average of $467.70.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.