Pitcairn Co. Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Pitcairn Co. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,826 shares of the financial services provider’s stock after selling 343 shares during the period. Pitcairn Co.’s holdings in Ameriprise Financial were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares during the last quarter. AGF Management Ltd. boosted its position in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Ameriprise Financial by 3.9% in the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock valued at $195,894,000 after buying an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Ameriprise Financial by 25.3% in the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock valued at $182,831,000 after buying an additional 86,315 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

Shares of NYSE:AMP opened at $572.07 on Friday. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $575.37. The company has a market capitalization of $55.50 billion, a PE ratio of 21.96, a PEG ratio of 0.99 and a beta of 1.34. The business has a 50 day moving average of $509.57 and a two-hundred day moving average of $458.07. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

In other 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 directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 39.73 % 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 valued at $15,829,445 in the last three months. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price 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. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. 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 research report on Thursday, October 17th. Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group downgraded 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 report on Thursday, September 26th. One research 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. Based on data from MarketBeat, the company currently 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.