Ameriprise Financial, Inc. (NYSE:AMP) Insider Sells $5,900,814.80 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ameriprise Financial Stock Up 0.2 %

NYSE:AMP opened at $562.44 on Friday. Ameriprise Financial, Inc. has a one year low of $342.96 and a one year high of $569.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $54.57 billion, a PE ratio of 21.74, a P/E/G ratio of 0.97 and a beta of 1.34. The firm’s 50 day simple moving average is $493.91 and its 200 day simple moving average is $451.64.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price 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 reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley boosted 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. UBS Group increased their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted 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. One investment 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $487.67.

Institutional Trading of Ameriprise Financial

Institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its holdings in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 8,693 shares during the period. BDF Gestion bought a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. Susquehanna Fundamental Investments LLC bought a new stake in Ameriprise Financial in the first quarter valued at approximately $570,000. Capital World Investors increased its position in Ameriprise Financial by 95.0% during the 1st quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock valued at $29,641,000 after purchasing an additional 32,930 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after purchasing an additional 26,442 shares during the last quarter. Institutional investors own 83.95% 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.