Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Invesco LLC

Invesco LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,150 shares of the financial services provider’s stock after selling 29 shares during the period. Invesco LLC’s holdings in Ameriprise Financial were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Allspring Global Investments Holdings LLC lifted its stake in Ameriprise Financial by 188.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock worth $12,565,000 after purchasing an additional 18,722 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Ameriprise Financial during the first quarter worth about $253,000. Norden Group LLC purchased a new position in Ameriprise Financial during the first quarter worth about $3,288,000. J.W. Cole Advisors Inc. acquired a new position in Ameriprise Financial in the 1st quarter valued at about $260,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $233,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research 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. UBS Group increased their target price on 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 raised 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $487.67.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 0.6 %

AMP traded down $3.12 on Friday, reaching $507.18. The company’s stock had a trading volume of 550,257 shares, compared to its average volume of 469,880. The company has a market capitalization of $49.80 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 0.89 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $321.28 and a fifty-two week high of $524.89. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $474.94 and a two-hundred day moving average of $443.17.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

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.