Douglas Lane & Associates LLC Has $266,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Douglas Lane & Associates LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 33.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500 shares of the financial services provider’s stock after selling 250 shares during the period. Douglas Lane & Associates LLC’s holdings in Ameriprise Financial were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after acquiring an additional 31,158 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Legal & General Group Plc grew its position in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $534.35 on Thursday. 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 firm’s fifty day simple moving average is $547.89 and its two-hundred day simple moving average is $484.46. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00. The stock has a market capitalization of $51.84 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. Ameriprise Financial’s payout ratio is 22.73%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $489.33.

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.