Principal Financial Group Inc. Has $145.01 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Principal Financial Group Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,646 shares of the financial services provider's stock after selling 11,016 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Ameriprise Financial worth $145,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider's stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. Swedbank AB bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $108,938,000. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $98,742,000. AGF Management Ltd. increased its holdings in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider's stock valued at $310,248,000 after purchasing an additional 111,973 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMP. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods boosted their price objective 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. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $487.67.

Ameriprise Financial Stock Performance

AMP stock traded up $4.38 during trading on Friday, reaching $551.99. 384,119 shares of the company's stock were exchanged, compared to its average volume of 423,227. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1-year low of $330.51 and a 1-year high of $569.47. The company's fifty day moving average price is $484.45 and its 200-day moving average price is $447.43. The firm has a market cap of $53.55 billion, a PE ratio of 21.19, a P/E/G ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business's stock in a transaction on 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 sale, the vice president now owns 13,199 shares of the company's stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction on 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 of the company's stock, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Davies sold 8,700 shares of the business's stock in a transaction on 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 sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

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.