Gumer Alvero Sells 2,325 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated 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 owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $513.95 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $329.16 and a fifty-two week high of $524.89. The company’s 50-day moving average is $477.73 and its 200 day moving average is $444.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market capitalization of $50.46 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. Ameriprise Financial’s payout ratio is currently 22.73%.

Analyst Ratings Changes

A number of equities research analysts have commented on AMP shares. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock 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 assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $487.67.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Ameriprise Financial by 188.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock valued at $12,565,000 after buying an additional 18,722 shares during the last quarter. Norden Group LLC bought a new position in Ameriprise Financial during the first quarter worth about $274,000. J.W. Cole Advisors Inc. bought a new position in Ameriprise Financial during the first quarter worth about $260,000. Diversify Advisory Services LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $233,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ameriprise Financial by 17.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,141 shares of the financial services provider’s stock valued at $13,215,000 after purchasing an additional 4,391 shares during the period. Institutional investors own 83.95% of the company’s stock.

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.