Argent Capital Management LLC Sells 957 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Argent Capital Management LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,442 shares of the financial services provider’s stock after selling 957 shares during the quarter. Argent Capital Management LLC’s holdings in Ameriprise Financial were worth $25,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bridgewater Associates LP raised its stake in Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after acquiring an additional 24,968 shares in the last quarter. Empowered Funds LLC boosted its holdings in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares during the last quarter. Czech National Bank boosted its holdings in Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after buying an additional 1,033 shares during the last quarter. SpiderRock Advisors LLC raised its position in shares of Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after purchasing an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $458,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 2.1 %

AMP stock opened at $537.64 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The business’s 50 day moving average price is $549.04 and its two-hundred day moving average price is $487.35. Ameriprise Financial, Inc. has a fifty-two week low of $368.41 and a fifty-two week high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last ninety days. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $494.89.

Ameriprise Financial 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.