Asset Management One Co. Ltd. Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Asset Management One Co. Ltd. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,058 shares of the financial services provider's stock after buying an additional 1,600 shares during the period. Asset Management One Co. Ltd.'s holdings in Ameriprise Financial were worth $18,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Pension Service grew its position in Ameriprise Financial by 12.6% during the third quarter. National Pension Service now owns 152,593 shares of the financial services provider's stock valued at $71,690,000 after acquiring an additional 17,058 shares during the last quarter. Van ECK Associates Corp raised its position in Ameriprise Financial by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 16,620 shares of the financial services provider's stock worth $8,650,000 after purchasing an additional 1,648 shares during the period. Janney Montgomery Scott LLC lifted its stake in Ameriprise Financial by 26.4% in the third quarter. Janney Montgomery Scott LLC now owns 25,243 shares of the financial services provider's stock worth $11,859,000 after purchasing an additional 5,271 shares during the last quarter. Conning Inc. grew its stake in shares of Ameriprise Financial by 3.0% during the third quarter. Conning Inc. now owns 83,722 shares of the financial services provider's stock valued at $39,333,000 after buying an additional 2,412 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Ameriprise Financial in the third quarter worth about $219,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP traded up $51.43 during trading hours on Wednesday, reaching $565.38. The stock had a trading volume of 468,337 shares, compared to its average volume of 468,670. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. The stock has a market capitalization of $55.51 billion, a PE ratio of 21.61, a PEG ratio of 0.88 and a beta of 1.34. Ameriprise Financial, Inc. has a 52 week low of $330.51 and a 52 week high of $566.06. The company has a 50 day moving average price of $477.73 and a two-hundred day moving average price of $444.96.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 of this dividend is Monday, November 4th. Ameriprise Financial's payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP William Davies sold 8,700 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on shares of 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 increased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.