Thrivent Financial for Lutherans Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Thrivent Financial for Lutherans lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,082 shares of the financial services provider's stock after selling 2,382 shares during the quarter. Thrivent Financial for Lutherans owned 0.47% of Ameriprise Financial worth $216,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AMP. DiNuzzo Private Wealth Inc. increased its position in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the second quarter worth $26,000. Mascoma Wealth Management LLC increased 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 acquiring an additional 40 shares during the period. Bank & Trust Co acquired a new position in shares of Ameriprise Financial during the second quarter worth $29,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Ameriprise Financial during the second quarter worth $29,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price 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. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $487.67.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company's stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,415 shares of company stock worth $15,829,445. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP traded up $0.90 during trading hours on Friday, hitting $562.44. The company had a trading volume of 730,105 shares, compared to its average volume of 448,893. Ameriprise Financial, Inc. has a 1-year low of $342.96 and a 1-year high of $569.47. The company has a market cap of $54.56 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The business has a 50 day moving average of $496.55 and a 200-day moving average of $453.22. 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 Dividend Announcement

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