Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) CFO Sells 8,655 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ameriprise Financial Stock Performance

NYSE AMP traded down $1.42 on Wednesday, reaching $559.89. The stock had a trading volume of 467,756 shares, compared to its average volume of 469,547. The business’s 50-day moving average price is $489.13 and its 200 day moving average price is $450.11. Ameriprise Financial, Inc. has a 12-month low of $338.00 and a 12-month high of $569.47. The stock has a market cap of $54.31 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $1.48 dividend. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.06%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. raised its stake 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 during 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 grew its stake in Ameriprise Financial by 153.8% in the 2nd 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 period. Bank & Trust Co acquired a new position in Ameriprise Financial in the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on AMP shares. 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 report on Thursday, October 17th. Royal Bank of Canada boosted 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. Keefe, Bruyette & Woods raised 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 note on Tuesday, October 29th. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.