Guinness Asset Management LTD Has $877,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Guinness Asset Management LTD lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 57.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,648 shares of the financial services provider's stock after acquiring an additional 598 shares during the quarter. Guinness Asset Management LTD's holdings in Ameriprise Financial were worth $877,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. boosted its position in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Maj Invest Holding A S purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $98,742,000. Assenagon Asset Management S.A. increased its holdings in shares of Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock valued at $116,698,000 after purchasing an additional 195,271 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock valued at $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ameriprise Financial during the third quarter worth $456,890,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 in the last ninety days. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. 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 research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $494.89.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $5.18 during trading hours on Monday, reaching $551.61. 941,468 shares of the company's stock were exchanged, compared to its average volume of 394,304. The business has a fifty day moving average price of $548.42 and a 200-day moving average price of $489.76. The stock has a market capitalization of $53.51 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

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