Pinnacle Financial Partners Inc Sells 247 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pinnacle Financial Partners Inc reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,084 shares of the financial services provider’s stock after selling 247 shares during the period. Pinnacle Financial Partners Inc’s holdings in Ameriprise Financial were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chase Investment Counsel Corp raised its stake in Ameriprise Financial by 30.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 3,400 shares of the financial services provider’s stock valued at $1,597,000 after acquiring an additional 800 shares during the period. Empower Advisory Group LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $223,000. Victory Capital Management Inc. raised its stake in Ameriprise Financial by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock valued at $116,603,000 after acquiring an additional 8,989 shares during the period. First National Trust Co raised its stake in Ameriprise Financial by 17.9% in the 3rd quarter. First National Trust Co now owns 717 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 109 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $503,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 0.3 %

AMP stock opened at $561.54 on Friday. 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’s 50 day moving average is $491.47 and its 200 day moving average is $450.87. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. Ameriprise Financial, Inc. has a 1-year low of $342.20 and a 1-year high of $569.47.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMP shares. Morgan Stanley boosted 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. Keefe, Bruyette & Woods upped 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. 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. The Goldman Sachs Group cut 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. Finally, UBS Group upped 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. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $487.67.

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.