Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 61,035 shares of the financial services provider's stock after selling 1,003 shares during the quarter. Ferguson Wellman Capital Management Inc. owned about 0.06% of Ameriprise Financial worth $28,675,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. BDF Gestion purchased a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. Capital World Investors increased its stake in shares of Ameriprise Financial by 95.0% in the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider's stock worth $29,641,000 after acquiring an additional 32,930 shares during the period. Cetera Investment Advisers increased its stake in shares of Ameriprise Financial by 335.6% in the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider's stock worth $15,048,000 after acquiring an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ameriprise Financial by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider's stock worth $12,615,000 after purchasing an additional 5,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider's stock valued at $24,375,000 after purchasing an additional 45,420 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded up $1.65 during midday trading on Thursday, reaching $561.54. The stock had a trading volume of 524,787 shares, compared to its average volume of 469,805. Ameriprise Financial, Inc. has a 52-week low of $342.20 and a 52-week high of $569.47. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The company's fifty day simple moving average is $491.47 and its 200 day simple moving average is $450.87. 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 business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, November 4th. Ameriprise Financial's payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent research reports. Royal Bank of Canada lifted 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. Morgan Stanley lifted their price objective 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. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $487.67.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company'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 owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 in the last three months. 0.73% of the stock is currently owned by 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.