Charles Schwab Investment Management Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Charles Schwab Investment Management Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 597,269 shares of the financial services provider’s stock after selling 68 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ameriprise Financial were worth $280,603,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. DiNuzzo Private Wealth Inc. raised its holdings 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 purchasing 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 worth approximately $26,000. Mascoma Wealth Management LLC raised its stake 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 worth $28,000 after acquiring an additional 40 shares in the last quarter. Bank & Trust Co purchased a new stake in Ameriprise Financial during the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $29,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $572.07 on Friday. The stock has a market cap of $55.50 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $575.37. The business has a 50-day simple moving average of $509.57 and a 200-day simple moving average of $457.84. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

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

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value 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 have sold 30,415 shares of company stock valued at $15,829,445 in the last 90 days. 0.73% of the stock is currently owned by company 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.