Veery Capital LLC Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

Veery Capital LLC lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 595 shares of the financial services provider’s stock after selling 44 shares during the period. Veery Capital LLC’s holdings in Ameriprise Financial were worth $317,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AMP. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $31,000. Country Trust Bank increased its holdings in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial during the third quarter valued at approximately $45,000. Friedenthal Financial bought a new position in Ameriprise Financial during the 4th quarter worth approximately $58,000. Finally, Trifecta Capital Advisors LLC grew its position in shares of Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, 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 sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last three months. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $551.61 on Friday. The company has a 50-day moving average price of $548.42 and a two-hundred day moving average price of $488.98. Ameriprise Financial, Inc. has a 52 week low of $369.29 and a 52 week high of $577.00. The stock has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMP. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods decreased their price target 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, January 10th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $494.89.

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.