Cigna Investments Inc. New Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cigna Investments Inc. New decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,044 shares of the financial services provider’s stock after selling 21 shares during the period. Cigna Investments Inc. New’s holdings in Ameriprise Financial were worth $491,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. grew its holdings in shares of 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 during the last quarter. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC increased its position in Ameriprise Financial by 153.8% during the second 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 period. Bank & Trust Co purchased a new stake in Ameriprise Financial in the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’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 sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of 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 cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Trading Down 0.6 %

Shares of AMP stock opened at $507.18 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $321.28 and a 1-year high of $524.89. The firm has a market capitalization of $49.80 billion, a PE ratio of 19.47, a P/E/G ratio of 0.89 and a beta of 1.35. The business’s fifty day moving average price is $474.94 and its 200 day moving average price is $443.17.

Ameriprise Financial Dividend Announcement

The business also recently announced 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 of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial’s payout ratio is currently 22.73%.

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.