Fiduciary Trust Co Sells 25 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fiduciary Trust Co reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,174 shares of the financial services provider’s stock after selling 25 shares during the quarter. Fiduciary Trust Co’s holdings in Ameriprise Financial were worth $1,491,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMP. Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the period. Legal & General Group Plc lifted its stake in shares of Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares during the period. AGF Management Ltd. boosted its holdings in Ameriprise Financial by 35.4% in the second 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. Epoch Investment Partners Inc. raised its holdings in Ameriprise Financial by 3.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after purchasing an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Ameriprise Financial by 25.3% in the 2nd quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock valued at $182,831,000 after purchasing an additional 86,315 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMP. Royal Bank of Canada increased their price target 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 cut 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 report on Thursday, September 26th. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s 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 sale, the insider now directly owns 5,811 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated 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 approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $573.74 on Friday. The stock has a 50 day moving average of $521.35 and a 200 day moving average of $462.81. 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, Inc. has a 12 month low of $347.74 and a 12 month high of $577.00. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors 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 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) 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.