Cohen Klingenstein LLC Has $20.09 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cohen Klingenstein LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,723 shares of the financial services provider’s stock after selling 900 shares during the period. Ameriprise Financial comprises approximately 0.7% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 21st largest holding. Cohen Klingenstein LLC’s holdings in Ameriprise Financial were worth $20,085,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Geller Advisors LLC increased its stake in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 19 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares during the period. Ledyard National Bank increased its position in Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after buying an additional 23 shares during the last quarter. Everpar Advisors LLC raised its stake in Ameriprise Financial by 1.8% in the fourth quarter. Everpar Advisors LLC now owns 1,286 shares of the financial services provider’s stock valued at $685,000 after buying an additional 23 shares during the period. Finally, Heartland Bank & Trust Co boosted its stake in shares of Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $551.61 on Friday. The firm has a market cap of $53.51 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s fifty day moving average price is $548.42 and its two-hundred day moving average price is $488.11. Ameriprise Financial, Inc. has a one year low of $369.29 and a one year high of $577.00.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on AMP. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley lifted their target price 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. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada upped 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $494.89.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. 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 quarter. 0.96% of the stock is owned by company insiders.

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.