Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584 shares of the financial services provider’s stock after selling 21 shares during the period. Washington Trust Advisors Inc.’s holdings in Ameriprise Financial were worth $274,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. lifted 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 valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the 2nd quarter valued at 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 buying an additional 40 shares during the last quarter. Bank & Trust Co acquired a new stake in Ameriprise Financial during the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. bought a new position in Ameriprise Financial during the second quarter worth $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.8 %

AMP opened at $552.01 on Friday. The firm has a 50 day simple moving average of $484.45 and a 200 day simple moving average of $447.43. Ameriprise Financial, Inc. has a fifty-two week low of $330.51 and a fifty-two week high of $569.47. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.88 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 0.59.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on 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 sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on 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 boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on 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 raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $487.67.

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.