Point72 Asia Singapore Pte. Ltd. Boosts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Point72 Asia Singapore Pte. Ltd. raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 784.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,955 shares of the financial services provider's stock after purchasing an additional 2,621 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Ameriprise Financial were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMP. Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock valued at $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc raised its position in shares of Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock worth $351,685,000 after acquiring an additional 11,060 shares in the last quarter. AGF Management Ltd. raised its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock worth $195,894,000 after purchasing an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Ameriprise Financial by 25.3% in the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider's stock valued at $182,831,000 after purchasing an additional 86,315 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. 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 90 days. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

AMP traded down $7.30 during trading on Monday, hitting $566.67. The stock had a trading volume of 148,793 shares, compared to its average volume of 468,910. The firm has a market capitalization of $54.98 billion, a P/E ratio of 22.03, a PEG ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a twelve month low of $349.90 and a twelve month high of $577.00. The company's 50-day moving average price is $521.35 and its 200 day moving average price is $463.17.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.04%. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMP shares. UBS Group boosted their price objective on shares of 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 upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. 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 research report on Friday, October 25th. Keefe, Bruyette & Woods upped their target price 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. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $487.67.

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.