Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,024 shares of the financial services provider’s stock after selling 478 shares during the period. Apollon Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. raised its holdings in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Mascoma Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Ameriprise Financial in the second quarter worth $29,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $31,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock worth $15,829,445 over the last ninety days. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AMP shares. Keefe, Bruyette & Woods boosted their target price 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. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley upped their price target 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. Finally, Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $559.89 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $338.00 and a 12-month high of $569.47. 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 market capitalization of $54.31 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 firm has a fifty day moving average of $489.13 and a 200-day moving average of $450.11.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

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.