Franklin Resources Inc. Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Franklin Resources Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,579 shares of the financial services provider's stock after selling 2,179 shares during the quarter. Franklin Resources Inc. owned approximately 0.26% of Ameriprise Financial worth $125,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMP. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial during the third quarter worth about $98,742,000. The Manufacturers Life Insurance Company lifted its holdings in Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock worth $114,345,000 after purchasing an additional 143,648 shares during the last quarter. AGF Management Ltd. grew its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock worth $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock worth $482,588,000 after purchasing an additional 110,319 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Ameriprise Financial during the third quarter worth about $456,890,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AMP shares. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $487.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm's 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 directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Up 0.1 %

NYSE:AMP traded up $0.36 during trading hours on Monday, hitting $550.12. The company had a trading volume of 426,377 shares, compared to its average volume of 470,763. Ameriprise Financial, Inc. has a 52 week low of $368.41 and a 52 week high of $577.00. The stock has a 50-day moving average price of $538.41 and a 200 day moving average price of $471.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $53.37 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 1.08%. Ameriprise Financial's dividend payout ratio is currently 22.73%.

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.