OneAscent Financial Services LLC Sells 165 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

OneAscent Financial Services LLC decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 27.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 437 shares of the financial services provider’s stock after selling 165 shares during the period. OneAscent Financial Services LLC’s holdings in Ameriprise Financial were worth $205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after buying an additional 11,060 shares during the period. AGF Management Ltd. lifted its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Ameriprise Financial by 3.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after acquiring an additional 17,312 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Ameriprise Financial by 25.3% in the 2nd quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock worth $182,831,000 after acquiring an additional 86,315 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the business’s 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 directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock valued at $15,829,445. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMP shares. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Price Performance

AMP opened at $562.33 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1 year low of $343.98 and a 1 year high of $569.47. The firm has a market cap of $54.55 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. The stock’s 50 day simple moving average is $501.69 and its 200 day simple moving average is $455.28.

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 issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

About Ameriprise Financial

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.