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

Peddock Capital Advisors LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,752 shares of the financial services provider’s stock after selling 51 shares during the period. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial were worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth $31,000. Country Trust Bank boosted its position in shares of Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Ameriprise Financial in the third quarter valued at $45,000. Friedenthal Financial purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $58,000. Finally, Trifecta Capital Advisors LLC lifted its stake in Ameriprise Financial by 31.4% during 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. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP stock traded up $2.79 on Monday, reaching $518.27. The company had a trading volume of 432,514 shares, compared to its average volume of 420,824. The company’s fifty day moving average is $548.56 and its 200 day moving average is $486.03. The company has a market cap of $50.28 billion, a P/E ratio of 19.90, a PEG ratio of 0.96 and a beta of 1.36. 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 1 year low of $368.41 and a 1 year high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid 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 1.14%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’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 sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 over the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday. Morgan Stanley increased 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. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $494.89.

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.