Gumer Alvero Sells 2,325 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $513.95 on Wednesday. The business’s 50-day moving average price is $477.73 and its 200-day moving average price is $444.96. The firm has a market capitalization of $50.46 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a 12 month low of $329.16 and a 12 month high of $524.89. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the period. Legal & General Group Plc lifted its position in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after purchasing an additional 11,060 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after buying an additional 131,844 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMP shares. Morgan Stanley increased their price target 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 raised their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. 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 report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $487.67.

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.