Lowe Brockenbrough & Co. Inc. Sells 7,190 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Lowe Brockenbrough & Co. Inc. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,712 shares of the financial services provider’s stock after selling 7,190 shares during the quarter. Ameriprise Financial accounts for 1.1% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 22nd biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Ameriprise Financial were worth $17,248,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Ameriprise Financial by 188.4% in 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 purchasing an additional 18,722 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at approximately $253,000. Norden Group LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at approximately $3,288,000. J.W. Cole Advisors Inc. acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $260,000. Finally, Diversify Advisory Services LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $233,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $507.18 on Friday. 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 business’s 50 day moving average price is $474.94 and its two-hundred day moving average price is $443.17. The company has a market cap of $49.80 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $321.28 and a twelve month high of $524.89.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is presently 22.73%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group lifted 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. Finally, Royal Bank of Canada increased 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. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.