Wellington Management Group LLP Sells 532 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Wellington Management Group LLP cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 28.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,366 shares of the financial services provider’s stock after selling 532 shares during the period. Wellington Management Group LLP’s holdings in Ameriprise Financial were worth $642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. Worldquant Millennium Advisors LLC lifted its position in shares of Ameriprise Financial by 76.7% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 125,388 shares of the financial services provider’s stock worth $58,909,000 after acquiring an additional 54,413 shares during the period. Weaver Consulting Group bought a new position in Ameriprise Financial in the third quarter worth $206,000. Stifel Financial Corp boosted its stake in Ameriprise Financial by 0.6% during the third quarter. Stifel Financial Corp now owns 82,359 shares of the financial services provider’s stock worth $38,700,000 after buying an additional 458 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Ameriprise Financial by 47.7% in the 3rd quarter. Quantinno Capital Management LP now owns 8,715 shares of the financial services provider’s stock valued at $4,095,000 after buying an additional 2,815 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in shares of Ameriprise Financial by 4.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 41,236 shares of the financial services provider’s stock valued at $19,373,000 after buying an additional 1,584 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.2 %

Shares of NYSE AMP opened at $532.12 on Friday. Ameriprise Financial, Inc. has a 1-year low of $368.41 and a 1-year high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $542.85 and a two-hundred day moving average of $474.71. The company has a market cap of $51.62 billion, a PE ratio of 20.43, a P/E/G ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction 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 sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AMP shares. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods upped their price objective 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. UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price target 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, Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently 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.