Patton Albertson Miller Group LLC Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Patton Albertson Miller Group LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,731 shares of the financial services provider’s stock after selling 1,246 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Ameriprise Financial were worth $7,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. boosted its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the second quarter worth approximately $26,000. Mascoma Wealth Management LLC boosted its holdings in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Bank & Trust Co purchased a new stake in Ameriprise Financial in the second quarter worth approximately $29,000. Finally, Oakworth Capital Inc. purchased a new stake in Ameriprise Financial in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s 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 sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at approximately $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 ninety days, insiders have sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 0.2 %

AMP opened at $570.67 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $55.36 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The firm’s fifty day moving average is $512.08 and its 200 day moving average is $459.29. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $577.00.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.04%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods lifted 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 note on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of 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 cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $487.67.

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.