Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,382 shares of the financial services provider’s stock after selling 16,228 shares during the quarter. Wedge Capital Management L L P NC owned about 0.07% of Ameriprise Financial worth $37,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the third quarter worth about $31,000. Country Trust Bank lifted its stake in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Ameriprise Financial in the 3rd quarter worth approximately $45,000. Friedenthal Financial acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $58,000. Finally, Trifecta Capital Advisors LLC grew its position in shares of Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 0.9 %

Shares of Ameriprise Financial stock opened at $551.61 on Friday. Ameriprise Financial, Inc. has a 52-week low of $369.29 and a 52-week high of $577.00. The company has a 50 day moving average of $548.42 and a 200 day moving average of $488.11. 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 company has a market capitalization of $53.51 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.