Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Veery Capital LLC

Veery Capital LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% during the fourth quarter, Holdings Channel reports. The firm owned 595 shares of the financial services provider’s stock after selling 44 shares during the period. Veery Capital LLC’s holdings in Ameriprise Financial were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Maj Invest Holding A S acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $98,742,000. Assenagon Asset Management S.A. raised its stake in Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $456,890,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the topic of several recent analyst reports. 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. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut 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 research note on Thursday, September 26th. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $494.89.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

AMP opened at $551.61 on Friday. Ameriprise Financial, Inc. has a twelve month low of $369.29 and a twelve month high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average price of $548.42 and a 200 day moving average price of $488.98. The firm has a market cap of $53.51 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

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.