Burney Co. Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Burney Co. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,012 shares of the financial services provider's stock after selling 852 shares during the quarter. Burney Co.'s holdings in Ameriprise Financial were worth $4,798,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the 3rd quarter worth approximately $31,000. Country Trust Bank increased its stake in shares of Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider's stock worth $32,000 after acquiring an additional 47 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial during the third quarter worth $45,000. Friedenthal Financial acquired a new position in Ameriprise Financial during the fourth quarter valued at $58,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 33 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company'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 completion of the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction 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 trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 in the last 90 days. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Price Performance

NYSE:AMP traded up $9.67 during trading hours on Thursday, hitting $546.92. 461,924 shares of the stock were exchanged, compared to its average volume of 429,862. The company has a market cap of $53.06 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.78 and a beta of 1.36. The firm's fifty day moving average price is $548.44 and its 200 day moving average price is $487.70. Ameriprise Financial, Inc. has a 52-week low of $368.41 and a 52-week 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial's payout ratio is currently 22.73%.

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.