State Street Corp Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

State Street Corp trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,451,327 shares of the financial services provider's stock after selling 17,436 shares during the period. State Street Corp owned approximately 4.59% of Ameriprise Financial worth $2,091,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Stifel Financial Corp boosted its stake in shares of Ameriprise Financial by 0.6% during the third quarter. Stifel Financial Corp now owns 82,359 shares of the financial services provider's stock valued at $38,700,000 after purchasing an additional 458 shares during the period. Quantinno Capital Management LP raised its stake in shares of Ameriprise Financial by 47.7% during the third quarter. Quantinno Capital Management LP now owns 8,715 shares of the financial services provider's stock valued at $4,095,000 after acquiring an additional 2,815 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Ameriprise Financial by 4.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 41,236 shares of the financial services provider's stock worth $19,373,000 after purchasing an additional 1,584 shares during the period. Redwood Investment Management LLC raised its position in Ameriprise Financial by 1.0% during the 3rd quarter. Redwood Investment Management LLC now owns 3,376 shares of the financial services provider's stock valued at $1,582,000 after purchasing an additional 34 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth $87,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on AMP shares. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada boosted 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. UBS Group increased their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $487.67.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company'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 completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business'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 completion of the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded down $2.26 during midday trading on Friday, reaching $562.95. 86,792 shares of the stock were exchanged, compared to its average volume of 469,367. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market cap of $54.61 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 0.99 and a beta of 1.34. The firm has a 50-day simple moving average of $529.39 and a two-hundred day simple moving average of $466.38. Ameriprise Financial, Inc. has a twelve month low of $350.37 and a twelve month high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio (DPR) 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.