FORA Capital LLC Sells 5,368 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

FORA Capital LLC cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 47.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,852 shares of the financial services provider’s stock after selling 5,368 shares during the period. FORA Capital LLC’s holdings in Ameriprise Financial were worth $2,749,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMP. DiNuzzo Private Wealth Inc. boosted 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 stake in shares of Ameriprise Financial in the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Bank & Trust Co bought a new stake in Ameriprise Financial in the second quarter worth $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial during the second quarter valued at about $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their target price 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. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,415 shares of company stock valued at $15,829,445. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Up 0.4 %

Shares of NYSE AMP traded up $2.14 during midday trading on Wednesday, hitting $576.15. 15,983 shares of the company traded hands, compared to its average volume of 470,417. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $577.00. The firm has a market cap of $55.89 billion, a P/E ratio of 22.04, a P/E/G ratio of 0.99 and a beta of 1.34. The stock has a 50-day moving average price of $514.51 and a 200 day moving average price of $460.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) 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.