Ameriprise Financial, Inc. (NYSE:AMP) Position Increased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,031 shares of the financial services provider's stock after acquiring an additional 1,834 shares during the period. QRG Capital Management Inc.'s holdings in Ameriprise Financial were worth $11,290,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMP. Ledyard National Bank increased its position in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after purchasing an additional 23 shares during the last quarter. Heartland Bank & Trust Co lifted its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider's stock worth $1,177,000 after acquiring an additional 24 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock worth $298,000 after purchasing an additional 25 shares during the period. Signaturefd LLC increased its holdings in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider's stock valued at $1,007,000 after purchasing an additional 26 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Ameriprise Financial by 0.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider's stock valued at $1,606,000 after purchasing an additional 26 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMP. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note 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 research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, UBS Group boosted their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $487.67.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $7.36 on Tuesday, hitting $513.95. The stock had a trading volume of 310,854 shares, compared to its average volume of 468,671. The stock has a market cap of $50.46 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $329.16 and a 52-week high of $524.89. The company's 50 day moving average price is $477.73 and its 200 day moving average price is $444.96.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, November 4th. Ameriprise Financial's payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William Davies sold 8,700 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company 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.