Atwood & Palmer Inc. Sells 166 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Atwood & Palmer Inc. decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 79,342 shares of the financial services provider’s stock after selling 166 shares during the period. Ameriprise Financial accounts for 2.9% of Atwood & Palmer Inc.’s holdings, making the stock its 6th biggest position. Atwood & Palmer Inc.’s holdings in Ameriprise Financial were worth $42,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. New Hampshire Trust grew its position in Ameriprise Financial by 2.4% during the 4th quarter. New Hampshire Trust now owns 6,988 shares of the financial services provider’s stock worth $3,721,000 after purchasing an additional 161 shares in the last quarter. Amplius Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $216,000. Harbor Investment Advisory LLC grew its holdings in shares of Ameriprise Financial by 9.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 412 shares of the financial services provider’s stock valued at $219,000 after buying an additional 37 shares in the last quarter. Zhang Financial LLC raised its position in Ameriprise Financial by 5.8% during the fourth quarter. Zhang Financial LLC now owns 3,462 shares of the financial services provider’s stock valued at $1,844,000 after buying an additional 190 shares during the period. Finally, Guinness Asset Management LTD lifted its stake in Ameriprise Financial by 57.0% in the 4th quarter. Guinness Asset Management LTD now owns 1,648 shares of the financial services provider’s stock worth $877,000 after acquiring an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on shares of 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 upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods reduced 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $494.89.

Ameriprise Financial Price Performance

NYSE:AMP opened at $551.61 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $53.51 billion, a P/E ratio of 21.18, a PEG ratio of 0.78 and a beta of 1.36. The company has a fifty day moving average price of $548.42 and a 200 day moving average price of $489.76. Ameriprise Financial, Inc. has a one year low of $369.29 and a one year high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.07%. Ameriprise Financial’s dividend payout ratio is 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.