PNC Financial Services Group Inc. Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

PNC Financial Services Group Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,445 shares of the financial services provider’s stock after selling 13,847 shares during the quarter. PNC Financial Services Group Inc. owned about 0.40% of Ameriprise Financial worth $184,374,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. DiNuzzo Private Wealth Inc. lifted its holdings in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $26,000. Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Bank & Trust Co acquired a new stake in Ameriprise Financial during the second quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $562.33 on Wednesday. The firm has a fifty day moving average of $501.69 and a 200-day moving average of $455.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $343.98 and a 52-week high of $569.47. The firm has a market capitalization of $54.55 billion, a P/E ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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 directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 over the last quarter. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of a number of recent analyst reports. UBS Group increased their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped 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. One 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.