Affinity Investment Advisors LLC Sells 64 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Affinity Investment Advisors LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,714 shares of the financial services provider’s stock after selling 64 shares during the period. Ameriprise Financial makes up 1.5% of Affinity Investment Advisors LLC’s portfolio, making the stock its 16th biggest position. Affinity Investment Advisors LLC’s holdings in Ameriprise Financial were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AMP. Allspring Global Investments Holdings LLC increased its position in shares of Ameriprise Financial by 188.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock valued at $12,565,000 after buying an additional 18,722 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $253,000. Norden Group LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $3,288,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the first quarter worth $260,000. Finally, Diversify Advisory Services LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at $233,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $507.18 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $321.28 and a 12-month high of $524.89. The business has a 50 day moving average of $474.94 and a 200-day moving average of $443.17. The stock has a market cap of $49.80 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 0.89 and a beta of 1.35.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.