Zurcher Kantonalbank Zurich Cantonalbank Sells 31,119 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 46.3% in the third quarter, Holdings Channel.com reports. The fund owned 36,126 shares of the financial services provider’s stock after selling 31,119 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameriprise Financial were worth $16,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC boosted its position in Ameriprise Financial by 9.3% during the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock valued at $1,382,000 after acquiring an additional 268 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares in the last quarter. Cetera Advisors LLC grew its stake in 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 purchasing an additional 3,895 shares during the period. Transcend Capital Advisors LLC increased its holdings in Ameriprise Financial by 6.9% in the second quarter. Transcend Capital Advisors LLC now owns 1,716 shares of the financial services provider’s stock worth $733,000 after purchasing an additional 111 shares in the last quarter. Finally, Marcum Wealth LLC lifted its stake in Ameriprise Financial by 7.4% in the second quarter. Marcum Wealth LLC now owns 565 shares of the financial services provider’s stock valued at $241,000 after buying an additional 39 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $573.97 on Friday. The stock has a market cap of $55.68 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $347.74 and a fifty-two week high of $577.00. The firm’s 50-day simple moving average is $521.35 and its 200 day simple moving average is $463.00.

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 given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada raised their price target 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. UBS Group upped their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased 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 report on Tuesday, October 29th. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Corporate 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.