Meeder Advisory Services Inc. Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Meeder Advisory Services Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,590 shares of the financial services provider’s stock after selling 259 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Ameriprise Financial were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board purchased a new stake in Ameriprise Financial during the first quarter valued at about $1,515,000. O Shaughnessy Asset Management LLC increased its position in shares of Ameriprise Financial by 7.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 25,024 shares of the financial services provider’s stock worth $10,971,000 after purchasing an additional 1,754 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of Ameriprise Financial by 259.4% in the first quarter. UniSuper Management Pty Ltd now owns 3,540 shares of the financial services provider’s stock worth $1,552,000 after purchasing an additional 2,555 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Ameriprise Financial by 2.1% in the first quarter. Bessemer Group Inc. now owns 9,748 shares of the financial services provider’s stock worth $4,274,000 after purchasing an additional 199 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its position in shares of Ameriprise Financial by 61.5% in the first quarter. Lake Street Advisors Group LLC now owns 2,506 shares of the financial services provider’s stock worth $1,099,000 after purchasing an additional 954 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % 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 the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 in the last quarter. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Down 0.1 %

NYSE AMP opened at $561.81 on Monday. 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, Inc. has a 12 month low of $343.98 and a 12 month high of $569.47. The stock’s 50 day moving average is $496.55 and its 200 day moving average is $453.22. The stock has a market cap of $54.50 billion, a PE ratio of 21.59, a P/E/G ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised their price target on 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 assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $487.67.

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.