Ameriprise Financial, Inc. (NYSE:AMP) Stake Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,382 shares of the financial services provider's stock after selling 16,228 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Ameriprise Financial worth $37,473,000 at the end of the most recent reporting period.

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

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $5.18 during trading on Friday, hitting $551.61. The company had a trading volume of 941,468 shares, compared to its average volume of 394,304. The business's 50-day moving average is $548.42 and its 200 day moving average is $488.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52 week low of $369.29 and a 52 week high of $577.00. The company has a market cap of $53.51 billion, a P/E ratio of 21.18, a PEG 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. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % 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 three months. 0.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada boosted 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. Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods dropped their target price on 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 given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $494.89.

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.