1620 Investment Advisors Inc. Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

1620 Investment Advisors Inc. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 54.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220 shares of the financial services provider’s stock after selling 260 shares during the period. 1620 Investment Advisors Inc.’s holdings in Ameriprise Financial were worth $103,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its position in shares of Ameriprise Financial by 23.3% in the third quarter. First Trust Direct Indexing L.P. now owns 5,013 shares of the financial services provider’s stock valued at $2,355,000 after purchasing an additional 947 shares during the last quarter. Valmark Advisers Inc. lifted its stake in Ameriprise Financial by 45.8% in the 3rd quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock valued at $402,000 after buying an additional 269 shares in the last quarter. abrdn plc grew its holdings in Ameriprise Financial by 7.7% during the 3rd quarter. abrdn plc now owns 91,204 shares of the financial services provider’s stock valued at $42,610,000 after buying an additional 6,544 shares during the last quarter. Smith Group Asset Management LLC raised its holdings in shares of Ameriprise Financial by 3.0% in the third quarter. Smith Group Asset Management LLC now owns 69,601 shares of the financial services provider’s stock worth $32,699,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Orrstown Financial Services Inc. acquired a new position in Ameriprise Financial in the 3rd quarter valued at about $201,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $514.04 on Thursday. The business’s fifty day moving average price is $472.05 and its two-hundred day moving average price is $442.03. The firm has a market capitalization of $50.47 billion, a PE ratio of 19.73, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $311.11 and a 1-year high of $524.89.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.15%. The ex-dividend date is 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.