Kolinsky Wealth Management LLC Decreases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kolinsky Wealth Management LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,491 shares of the financial services provider’s stock after selling 45 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Ameriprise Financial were worth $700,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. lifted its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the second quarter valued at $26,000. Mascoma Wealth Management LLC lifted its position in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at $29,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.3 %

NYSE AMP opened at $573.74 on Friday. 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 stock has a market capitalization of $55.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.00 and a beta of 1.34. Ameriprise Financial, Inc. has a 52-week low of $347.74 and a 52-week high of $577.00. The firm has a 50-day moving average price of $521.35 and a 200 day moving average price of $462.81.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMP. Keefe, Bruyette & Woods upped 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. The Goldman Sachs Group downgraded 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. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their target price 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 upped 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $487.67.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by corporate insiders.

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.