Ameriprise Financial, Inc. (NYSE:AMP) Stake Cut by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,424,208 shares of the financial services provider’s stock after selling 132,053 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.47% of Ameriprise Financial worth $669,107,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. increased its position 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 during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the second quarter worth $26,000. Mascoma Wealth Management LLC increased its position in 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 period. Bank & Trust Co acquired a new stake in Ameriprise Financial in the second quarter worth $29,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the third quarter valued at $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 0.4 %

Shares of NYSE AMP opened at $571.89 on Thursday. The firm has a market capitalization of $55.48 billion, a PE ratio of 21.95, a PEG ratio of 0.99 and a beta of 1.34. 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, Inc. has a one year low of $345.43 and a one year high of $577.00. The business has a 50-day moving average price of $516.92 and a two-hundred day moving average price of $461.06.

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group increased their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target 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. Morgan Stanley increased their price target 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. Finally, The Goldman Sachs Group lowered 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 report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $487.67.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % 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 worth $15,829,445 in the last three months. 0.96% of the stock is owned by insiders.

Ameriprise Financial Company 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.