Foster & Motley Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Foster & Motley Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,314 shares of the financial services provider's stock after selling 982 shares during the period. Foster & Motley Inc.'s holdings in Ameriprise Financial were worth $11,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Empirical Finance LLC boosted its holdings in Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider's stock worth $1,708,000 after buying an additional 113 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider's stock worth $51,828,000 after acquiring an additional 8,693 shares in the last quarter. BDF Gestion acquired a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Janney Montgomery Scott LLC increased its stake in shares of Ameriprise Financial by 12.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider's stock valued at $8,242,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at about $570,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $53.48 on Wednesday, hitting $567.43. 774,624 shares of the company were exchanged, compared to its average volume of 470,095. Ameriprise Financial, Inc. has a 1-year low of $330.51 and a 1-year high of $569.47. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $55.72 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. The company has a 50-day moving average price of $477.73 and a 200 day moving average price of $444.96.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.04%. Ameriprise Financial's dividend payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley lifted their price target 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. UBS Group boosted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $487.67.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP William Davies sold 8,700 shares of Ameriprise Financial 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

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.