Citigroup Inc. Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Citigroup Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 99,969 shares of the financial services provider’s stock after selling 12,137 shares during the quarter. Citigroup Inc.’s holdings in Ameriprise Financial were worth $46,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AMP. Swedbank AB purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $108,938,000. Maj Invest Holding A S acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. AGF Management Ltd. boosted its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Ameriprise Financial in the 3rd quarter valued at about $456,890,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. UBS Group boosted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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 note on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Price Performance

AMP stock opened at $572.07 on Monday. 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 has a market capitalization of $55.50 billion, a P/E ratio of 21.96, a PEG ratio of 0.99 and a beta of 1.34. The business has a 50 day simple moving average of $509.57 and a 200-day simple moving average of $458.30. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $575.37.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was 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 approximately $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’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 directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by company insiders.

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.