Brown Financial Advisors Sells 790 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Brown Financial Advisors trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 46.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 898 shares of the financial services provider’s stock after selling 790 shares during the quarter. Brown Financial Advisors’ holdings in Ameriprise Financial were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its position in shares of Ameriprise Financial by 9.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,551 shares of the financial services provider’s stock worth $1,517,000 after buying an additional 305 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after buying an additional 5,692 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $205,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $256,000. Finally, Wedge Capital Management L L P NC grew its position in shares of Ameriprise Financial by 10.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,643 shares of the financial services provider’s stock worth $42,994,000 after buying an additional 9,153 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 1.4 %

Ameriprise Financial stock opened at $546.23 on Wednesday. The firm has a market cap of $52.99 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.98 and a beta of 1.34. The stock has a fifty day simple moving average of $532.92 and a two-hundred day simple moving average of $468.55. Ameriprise Financial, Inc. has a 12 month low of $358.89 and a 12 month 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.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered 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 research report on Thursday, September 26th. Royal Bank of Canada raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note 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 research note on Tuesday, October 29th. UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. 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 research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial 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.