Guinness Asset Management LTD Has $877,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Guinness Asset Management LTD lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 57.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,648 shares of the financial services provider’s stock after buying an additional 598 shares during the period. Guinness Asset Management LTD’s holdings in Ameriprise Financial were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AMP. UMB Bank n.a. lifted its position in Ameriprise Financial by 3.1% during the fourth quarter. UMB Bank n.a. now owns 3,098 shares of the financial services provider’s stock worth $1,649,000 after purchasing an additional 92 shares during the period. M.E. Allison & CO. Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $375,000. Grove Bank & Trust boosted its stake in Ameriprise Financial by 4.9% in the fourth quarter. Grove Bank & Trust now owns 811 shares of the financial services provider’s stock valued at $432,000 after buying an additional 38 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $530,000. Finally, Kelly Financial Services LLC increased its position in Ameriprise Financial by 7.0% during the 4th quarter. Kelly Financial Services LLC now owns 614 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, insider Gumer Alvero sold 2,325 shares of the 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 completion of the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Up 0.9 %

NYSE AMP opened at $551.61 on Monday. Ameriprise Financial, Inc. has a one year low of $369.29 and a one year high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $548.42 and a 200 day simple moving average of $489.37. The stock has a market capitalization of $53.51 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley upped 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. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $494.89.

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.