Peddock Capital Advisors LLC Cuts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Peddock Capital Advisors LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,752 shares of the financial services provider’s stock after selling 51 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial were worth $2,531,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. Bridgewater Associates LP increased its position in Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC boosted its position in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares during the period. SpiderRock Advisors LLC increased its holdings in Ameriprise Financial by 136.3% in the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares in the last quarter. Aljian Capital Management LLC purchased a new position in Ameriprise Financial in the third quarter valued at about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Ameriprise Financial by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock worth $8,725,000 after acquiring an additional 1,191 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.5 %

Ameriprise Financial stock traded up $2.79 during mid-day trading on Monday, hitting $518.27. The stock had a trading volume of 432,514 shares, compared to its average volume of 420,824. The stock has a market capitalization of $50.28 billion, a PE ratio of 19.90, a P/E/G ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $548.56 and a two-hundred day simple moving average of $486.03.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insiders Place Their Bets

In other 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 value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

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

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.