Dean Investment Associates LLC Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Dean Investment Associates LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,635 shares of the financial services provider's stock after selling 1,024 shares during the period. Dean Investment Associates LLC's holdings in Ameriprise Financial were worth $3,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMP. Orion Portfolio Solutions LLC lifted its holdings in shares of Ameriprise Financial by 12.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,449 shares of the financial services provider's stock valued at $3,969,000 after buying an additional 961 shares during the period. Zacks Investment Management increased its position in Ameriprise Financial by 7.1% during the third quarter. Zacks Investment Management now owns 78,457 shares of the financial services provider's stock valued at $36,860,000 after acquiring an additional 5,209 shares during the last quarter. National Bank of Canada FI increased its position in Ameriprise Financial by 112.3% during the third quarter. National Bank of Canada FI now owns 105,868 shares of the financial services provider's stock valued at $49,738,000 after acquiring an additional 56,002 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Ameriprise Financial by 19.2% in the third quarter. EP Wealth Advisors LLC now owns 2,163 shares of the financial services provider's stock valued at $1,016,000 after acquiring an additional 348 shares during the period. Finally, United Services Automobile Association boosted its position in Ameriprise Financial by 18.6% in the third quarter. United Services Automobile Association now owns 12,439 shares of the financial services provider's stock worth $5,844,000 after purchasing an additional 1,953 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 5,811 shares of the company's stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.96% of the company's stock.

Ameriprise Financial Stock Down 1.4 %

Shares of NYSE:AMP traded down $7.72 during trading on Monday, reaching $553.83. The stock had a trading volume of 597,231 shares, compared to its average volume of 470,981. 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 $53.73 billion, a P/E ratio of 21.26, a PEG ratio of 0.98 and a beta of 1.34. The firm's 50-day simple moving average is $532.92 and its 200 day simple moving average is $468.55. Ameriprise Financial, Inc. has a one year low of $358.89 and a one year high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's payout ratio is presently 22.73%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $487.67.

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.