Patton Albertson Miller Group LLC Sells 1,246 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Patton Albertson Miller Group LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,731 shares of the financial services provider’s stock after selling 1,246 shares during the period. Patton Albertson Miller Group LLC’s holdings in Ameriprise Financial were worth $7,860,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMP. Swedbank AB bought a new position in Ameriprise Financial during the 1st quarter valued at about $108,938,000. Maj Invest Holding A S bought a new position in Ameriprise Financial during the 3rd quarter valued at about $98,742,000. The Manufacturers Life Insurance Company grew its holdings in Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the last quarter. AGF Management Ltd. grew its holdings in Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 110,319 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 0.2 %

NYSE AMP opened at $570.67 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market cap of $55.36 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The company has a 50 day moving average price of $512.08 and a 200 day moving average price of $459.29. Ameriprise Financial, Inc. has a 52 week low of $345.43 and a 52 week high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid 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 1.04%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock worth $15,829,445 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMP has been the topic of several analyst reports. 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 report on Friday, October 25th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, UBS Group boosted their price objective 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 research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $487.67.

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.