Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) Insider Sells $1,199,816.25 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 2,325 shares of the business’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 value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ameriprise Financial Trading Up 10.4 %

Shares of AMP stock opened at $567.43 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $55.72 billion, a P/E ratio of 21.78, a P/E/G ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $330.51 and a twelve month high of $569.47. The stock’s fifty day simple moving average is $480.29 and its 200 day simple moving average is $445.82.

Ameriprise Financial Dividend Announcement

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

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently added to or reduced their stakes in AMP. Empirical Finance LLC raised its stake in shares of Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion bought a new position in Ameriprise Financial during the 2nd quarter worth $2,836,000. Janney Montgomery Scott LLC grew its position in shares of Ameriprise Financial by 12.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after buying an additional 2,139 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $570,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. 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. The Goldman Sachs Group cut shares of 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 report on Thursday, September 26th. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.