Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,000 shares of the financial services provider’s stock after selling 330 shares during the quarter. Glenmede Trust Co. NA’s holdings in Ameriprise Financial were worth $17,853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. DiNuzzo Private Wealth Inc. boosted its position in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the second quarter worth $26,000. Mascoma Wealth Management LLC grew its position 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 valued at $28,000 after purchasing an additional 40 shares during the period. Bank & Trust Co acquired a new position in Ameriprise Financial in the second quarter valued at $29,000. Finally, Hantz Financial Services Inc. purchased a new position in Ameriprise Financial during the second quarter worth about $29,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $571.91 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $577.00. The company has a market capitalization of $55.48 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.99 and a beta of 1.34. The business has a 50-day moving average of $519.09 and a 200-day moving average of $461.83.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Analyst Ratings Changes

Several research firms have commented on AMP. Keefe, Bruyette & Woods lifted 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. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other news, 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 transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

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.