Cohen Klingenstein LLC Sells 900 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cohen Klingenstein LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,723 shares of the financial services provider’s stock after selling 900 shares during the period. Ameriprise Financial accounts for 0.7% of Cohen Klingenstein LLC’s holdings, making the stock its 21st biggest holding. Cohen Klingenstein LLC’s holdings in Ameriprise Financial were worth $20,085,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. Assenagon Asset Management S.A. boosted its holdings in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after buying an additional 195,271 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of 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 worth $114,345,000 after buying an additional 143,648 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Ameriprise Financial in the third quarter worth $456,890,000. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction 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. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 over the last three months. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $494.89.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $551.61 on Friday. The company has a 50-day moving average price of $548.42 and a two-hundred day moving average price of $488.11. Ameriprise Financial, Inc. has a twelve month low of $369.29 and a twelve month high of $577.00. 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 capitalization of $53.51 billion, a PE ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

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.