Citigroup Inc. Sells 12,137 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Citigroup Inc. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,969 shares of the financial services provider’s stock after selling 12,137 shares during the quarter. Citigroup Inc. owned about 0.10% of Ameriprise Financial worth $46,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James Trust N.A. boosted its position in shares of Ameriprise Financial by 6.4% during the third quarter. Raymond James Trust N.A. now owns 10,016 shares of the financial services provider’s stock worth $4,706,000 after acquiring an additional 606 shares during the last quarter. First County Bank CT boosted its position in shares of Ameriprise Financial by 40.1% during the third quarter. First County Bank CT now owns 915 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 262 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Ameriprise Financial by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock worth $4,803,000 after acquiring an additional 278 shares during the last quarter. Smithfield Trust Co raised its stake in Ameriprise Financial by 115.3% during the third quarter. Smithfield Trust Co now owns 1,729 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 926 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Ameriprise Financial by 33.5% during the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after purchasing an additional 4,780 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $572.07 on Monday. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $575.37. The company has a market cap of $55.50 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34. 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’s fifty day simple moving average is $509.57 and its 200-day simple moving average is $458.30.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock valued at $15,829,445 in the last 90 days. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of 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 upped their price target on shares of 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 upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price 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.