Mizuho Securities USA LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Mizuho Securities USA LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,367 shares of the financial services provider’s stock after selling 1,292 shares during the quarter. Mizuho Securities USA LLC’s holdings in Ameriprise Financial were worth $2,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. lifted its stake in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the second quarter worth $26,000. Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in Ameriprise Financial during the 2nd quarter worth about $29,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP opened at $572.07 on Friday. The firm has a market capitalization of $55.50 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $575.37. The firm has a fifty day moving average of $509.57 and a 200 day moving average of $457.84.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were 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. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,415 shares of company stock valued at $15,829,445. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One 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 company. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target 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.