iA Global Asset Management Inc. Has $1.73 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

iA Global Asset Management Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 37.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,679 shares of the financial services provider's stock after selling 2,248 shares during the quarter. iA Global Asset Management Inc.'s holdings in Ameriprise Financial were worth $1,728,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AMP. EP Wealth Advisors LLC boosted its position in shares of Ameriprise Financial by 19.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 2,163 shares of the financial services provider's stock worth $1,016,000 after purchasing an additional 348 shares during the last quarter. United Services Automobile Association boosted its position in shares of Ameriprise Financial by 18.6% in the 3rd quarter. United Services Automobile Association now owns 12,439 shares of the financial services provider's stock worth $5,844,000 after purchasing an additional 1,953 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Ameriprise Financial by 2.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 58,992 shares of the financial services provider's stock worth $27,016,000 after purchasing an additional 1,471 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Ameriprise Financial by 76.7% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 125,388 shares of the financial services provider's stock worth $58,909,000 after purchasing an additional 54,413 shares during the last quarter. Finally, Weaver Consulting Group bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $206,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP traded down $7.72 during trading on Monday, reaching $553.83. 597,231 shares of the company's stock were exchanged, compared to its average volume of 470,981. The business has a 50 day moving average price of $532.92 and a 200-day moving average price of $468.55. The stock has a market capitalization of $53.73 billion, a P/E ratio of 21.26, 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, Inc. has a fifty-two week low of $358.89 and a fifty-two week high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial's dividend payout ratio is presently 22.73%.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 over the last quarter. Company insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a 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 report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.