ING Groep NV Sells 7,336 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

ING Groep NV lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 59.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,949 shares of the financial services provider's stock after selling 7,336 shares during the quarter. ING Groep NV's holdings in Ameriprise Financial were worth $2,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Metis Global Partners LLC grew its stake in shares of Ameriprise Financial by 1.3% in the 3rd quarter. Metis Global Partners LLC now owns 3,443 shares of the financial services provider's stock worth $1,618,000 after acquiring an additional 43 shares in the last quarter. KBC Group NV grew its position in Ameriprise Financial by 3.9% in the 3rd quarter. KBC Group NV now owns 113,115 shares of the financial services provider's stock worth $53,143,000 after purchasing an additional 4,197 shares in the last quarter. Huntington National Bank increased its stake in Ameriprise Financial by 2.5% in the 3rd quarter. Huntington National Bank now owns 2,782 shares of the financial services provider's stock valued at $1,307,000 after buying an additional 67 shares during the last quarter. ROI Financial Advisors LLC increased its stake in Ameriprise Financial by 19.4% in the 3rd quarter. ROI Financial Advisors LLC now owns 983 shares of the financial services provider's stock valued at $462,000 after buying an additional 160 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of Ameriprise Financial by 3.0% during the 3rd quarter. Plato Investment Management Ltd now owns 6,992 shares of the financial services provider's stock worth $3,282,000 after buying an additional 202 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP traded up $0.90 during trading hours on Friday, hitting $562.44. The stock had a trading volume of 730,105 shares, compared to its average volume of 448,893. The firm has a market capitalization of $54.56 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a one year low of $342.96 and a one year high of $569.47. The company has a 50 day simple moving average of $496.55 and a two-hundred day simple moving average of $452.94. 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 Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial's payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Morgan Stanley boosted their price target 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. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $487.67.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the 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 of the company's stock, valued at $2,409,437.45. This 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, VP William Davies sold 8,700 shares of the firm's stock in a transaction dated 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 sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by insiders.

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.