Intech Investment Management LLC Sells 144 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Intech Investment Management LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,279 shares of the financial services provider’s stock after selling 144 shares during the quarter. Intech Investment Management LLC’s holdings in Ameriprise Financial were worth $2,950,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMP. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the second quarter worth approximately $26,000. Mascoma Wealth Management LLC increased its stake in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $29,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $31,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group lifted their price objective 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. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $487.67.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE AMP opened at $572.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $575.37. The firm’s 50-day moving average price is $509.57 and its 200-day moving average price is $458.07. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

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.