PNC Financial Services Group Inc. Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

PNC Financial Services Group Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,445 shares of the financial services provider's stock after selling 13,847 shares during the quarter. PNC Financial Services Group Inc. owned about 0.40% of Ameriprise Financial worth $184,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in Ameriprise Financial by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 9,748 shares of the financial services provider's stock worth $4,274,000 after buying an additional 199 shares during the period. National Bank of Canada FI raised its position in shares of Ameriprise Financial by 2.8% in the 1st quarter. National Bank of Canada FI now owns 44,630 shares of the financial services provider's stock worth $19,337,000 after acquiring an additional 1,221 shares in the last quarter. Pitcairn Co. lifted its stake in shares of Ameriprise Financial by 2.2% in the 1st quarter. Pitcairn Co. now owns 3,022 shares of the financial services provider's stock valued at $1,325,000 after purchasing an additional 65 shares during the period. Natixis boosted its position in shares of Ameriprise Financial by 164.2% during the first quarter. Natixis now owns 19,267 shares of the financial services provider's stock valued at $8,447,000 after purchasing an additional 11,975 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in Ameriprise Financial by 86.3% in the first quarter. Shell Asset Management Co. now owns 3,768 shares of the financial services provider's stock worth $1,652,000 after purchasing an additional 1,745 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Down 0.2 %

Shares of NYSE:AMP traded down $1.16 during trading on Wednesday, reaching $561.40. The company's stock had a trading volume of 304,706 shares, compared to its average volume of 469,960. Ameriprise Financial, Inc. has a 12 month low of $345.43 and a 12 month high of $569.47. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm's 50 day simple moving average is $504.20 and its two-hundred day simple moving average is $456.02. The stock has a market capitalization of $54.46 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company's stock, valued at approximately $5,834,881.93. This represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 over the last 90 days. Company insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMP shares. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. UBS Group boosted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company 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 four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $487.67.

Ameriprise Financial 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.