Ascent Wealth Partners LLC Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ascent Wealth Partners LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,969 shares of the financial services provider’s stock after selling 176 shares during the period. Ameriprise Financial accounts for approximately 1.5% of Ascent Wealth Partners LLC’s portfolio, making the stock its 16th largest holding. Ascent Wealth Partners LLC’s holdings in Ameriprise Financial were worth $10,791,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators increased its holdings in shares of Ameriprise Financial by 25.1% in the third quarter. Deseret Mutual Benefit Administrators now owns 549 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 110 shares during the period. Montecito Bank & Trust increased its holdings in shares of Ameriprise Financial by 35.0% in the third quarter. Montecito Bank & Trust now owns 5,241 shares of the financial services provider’s stock worth $2,462,000 after purchasing an additional 1,358 shares during the period. Graypoint LLC increased its holdings in shares of Ameriprise Financial by 1.9% in the third quarter. Graypoint LLC now owns 2,835 shares of the financial services provider’s stock worth $1,332,000 after purchasing an additional 54 shares during the period. Radnor Capital Management LLC increased its holdings in shares of Ameriprise Financial by 2.9% in the third quarter. Radnor Capital Management LLC now owns 7,042 shares of the financial services provider’s stock worth $3,308,000 after purchasing an additional 200 shares during the period. Finally, Catalina Capital Group LLC increased its holdings in shares of Ameriprise Financial by 9.5% in the third quarter. Catalina Capital Group LLC now owns 772 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.2 %

Shares of NYSE:AMP traded down $12.22 on Thursday, reaching $555.21. 20,367 shares of the company traded hands, compared to its average volume of 468,123. The business’s 50-day simple moving average is $480.29 and its 200 day simple moving average is $445.82. Ameriprise Financial, Inc. has a 52 week low of $330.51 and a 52 week high of $569.47. The stock has a market capitalization of $53.86 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.