Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 392,445 shares of the financial services provider’s stock after selling 13,847 shares during the period. PNC Financial Services Group Inc.’s holdings in Ameriprise Financial were worth $184,374,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMP. BDF Gestion bought a new position in shares of Ameriprise Financial during the second quarter worth about $2,836,000. Capital World Investors grew its position in shares of Ameriprise Financial by 95.0% in the 1st quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after acquiring an additional 32,930 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after acquiring an additional 26,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after acquiring an additional 5,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock valued at $24,375,000 after acquiring an additional 45,420 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on 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 directly owns 5,811 shares in the company, valued at $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 SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’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 sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was 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. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $562.33 on Wednesday. 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 $343.98 and a 1-year high of $569.47. The firm has a fifty day simple moving average of $501.69 and a 200-day simple moving average of $455.28. The stock has a market capitalization of $54.55 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced 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 was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s payout ratio is 22.73%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMP shares. 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. UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock 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 reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Morgan Stanley increased their price objective 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.