Pinnacle Financial Partners Inc Sells 247 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pinnacle Financial Partners Inc trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the financial services provider’s stock after selling 247 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Ameriprise Financial were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AMP. Concurrent Investment Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $217,000. Orion Portfolio Solutions LLC grew its position in shares of Ameriprise Financial by 3.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,377 shares of the financial services provider’s stock worth $3,235,000 after buying an additional 254 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the last quarter. TIAA Trust National Association grew its position in shares of Ameriprise Financial by 3.0% in the 1st quarter. TIAA Trust National Association now owns 3,062 shares of the financial services provider’s stock worth $1,343,000 after buying an additional 88 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $1,515,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction 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 transaction, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP opened at $561.54 on Friday. The stock has a fifty day simple moving average of $491.47 and a two-hundred day simple moving average of $450.87. The stock has a market capitalization of $54.47 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 0.97 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $342.20 and a 12-month high of $569.47. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Wall Street Analyst Weigh In

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