Geode Capital Management LLC Acquires 31,158 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Geode Capital Management LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,609,486 shares of the financial services provider's stock after buying an additional 31,158 shares during the period. Geode Capital Management LLC owned about 2.69% of Ameriprise Financial worth $1,222,943,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMP. Bridgewater Associates LP increased its stake in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock worth $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock worth $3,768,000 after buying an additional 1,329 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider's stock worth $24,375,000 after buying an additional 45,420 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ameriprise Financial by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider's stock worth $12,615,000 after buying an additional 5,692 shares during the period. Finally, SpiderRock Advisors LLC lifted its position in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider's stock valued at $1,521,000 after buying an additional 1,867 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $4.46 during trading hours on Wednesday, hitting $550.80. The stock had a trading volume of 428,631 shares, compared to its average volume of 471,081. The stock's 50-day moving average price is $534.38 and its two-hundred day moving average price is $469.29. Ameriprise Financial, Inc. has a one year low of $365.44 and a one year high of $577.00. The stock has a market capitalization of $53.44 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. 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 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.