Independent Advisor Alliance Sells 79 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Independent Advisor Alliance lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,773 shares of the financial services provider’s stock after selling 79 shares during the quarter. Independent Advisor Alliance’s holdings in Ameriprise Financial were worth $2,242,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $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 is available through this link. Also, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last three months. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. 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 research note on Thursday, September 26th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their target price 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 upped their target price 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. Finally, UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Price Performance

AMP opened at $570.67 on Tuesday. The firm 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. The firm has a 50-day moving average of $512.08 and a 200 day moving average of $459.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. 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 (DPR) is presently 22.73%.

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.