Royal London Asset Management Ltd. Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Royal London Asset Management Ltd. raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,236 shares of the financial services provider's stock after buying an additional 1,584 shares during the period. Royal London Asset Management Ltd.'s holdings in Ameriprise Financial were worth $19,373,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMP. DiNuzzo Private Wealth Inc. boosted its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $26,000. Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after buying an additional 40 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $29,000. Finally, Oakworth Capital Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. 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 report on Tuesday, October 29th. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the company's stock in a transaction that occurred 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 owns 5,811 shares in the company, valued at $3,194,190.48. This represents 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 Ameriprise Financial 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 completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE AMP traded down $3.66 on Friday, reaching $561.55. The stock had a trading volume of 331,754 shares, compared to its average volume of 457,116. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $54.48 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The business's 50-day moving average price is $529.39 and its 200 day moving average price is $466.38. Ameriprise Financial, Inc. has a 12-month low of $350.37 and a 12-month high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's payout ratio is currently 22.73%.

Ameriprise Financial Company 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.