Graypoint LLC Has $1.48 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Graypoint LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,784 shares of the financial services provider’s stock after selling 51 shares during the period. Graypoint LLC’s holdings in Ameriprise Financial were worth $1,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geller Advisors LLC lifted its holdings in shares of Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 19 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 20 shares during the last quarter. Ledyard National Bank lifted its holdings in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares during the last quarter. Heartland Bank & Trust Co lifted its holdings in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $516.44 on Friday. The company has a market cap of $50.10 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a 52 week low of $368.41 and a 52 week high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $548.56 and a 200-day moving average of $485.34.

Ameriprise Financial Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were 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 owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial 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 completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last quarter. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.