Fiduciary Trust Co Sells 25 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fiduciary Trust Co reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,174 shares of the financial services provider’s stock after selling 25 shares during the quarter. Fiduciary Trust Co’s holdings in Ameriprise Financial were worth $1,491,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Ameriprise Financial by 9.3% in the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock valued at $1,382,000 after purchasing an additional 268 shares during the period. Cetera Investment Advisers lifted its position in Ameriprise Financial by 335.6% during the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after acquiring an additional 26,442 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Ameriprise Financial by 55.6% during the first quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider’s stock worth $4,779,000 after acquiring an additional 3,895 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Ameriprise Financial by 21.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 59,400 shares of the financial services provider’s stock worth $25,723,000 after acquiring an additional 10,423 shares during the period. Finally, American Trust acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $350,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut shares of 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 report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective 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. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $573.74 on Friday. The company has a 50 day moving average of $521.35 and a 200-day moving average of $462.81. The company has a market cap of $55.66 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.00 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. Ameriprise Financial, Inc. has a 1-year low of $347.74 and a 1-year high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend 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 Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% 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.