Oppenheimer Asset Management Inc. Sells 114 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Oppenheimer Asset Management Inc. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,641 shares of the financial services provider’s stock after selling 114 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ameriprise Financial were worth $2,180,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. raised its stake in 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 in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC raised its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $29,000. Finally, Hantz Financial Services Inc. bought a new stake in Ameriprise Financial during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $562.44 on Friday. The company has a market cap of $54.57 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.97 and a beta of 1.34. 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’s fifty day moving average price is $496.55 and its 200 day moving average price is $452.66. Ameriprise Financial, Inc. has a 1 year low of $342.96 and a 1 year high of $569.47.

Ameriprise Financial Announces Dividend

The company 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 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock worth $15,829,445 over the last three months. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of 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 Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price 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.