Quantinno Capital Management LP Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Quantinno Capital Management LP increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 47.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,715 shares of the financial services provider's stock after acquiring an additional 2,815 shares during the period. Quantinno Capital Management LP's holdings in Ameriprise Financial were worth $4,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Capital Wealth Partners LLC boosted its holdings in Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 20 shares during the period. Ledyard National Bank increased its holdings in Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock valued at $344,000 after buying an additional 23 shares during the last quarter. Heartland Bank & Trust Co raised its holdings in Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider's stock worth $1,177,000 after purchasing an additional 24 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Ameriprise Financial by 2.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider's stock worth $470,000 after buying an additional 24 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in shares of Ameriprise Financial by 3.7% in the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock valued at $298,000 after buying an additional 25 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 recently weighed in on AMP. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. 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 note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $487.67.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $7.72 during midday trading on Monday, reaching $553.83. The stock had a trading volume of 573,347 shares, compared to its average volume of 470,880. The stock has a market cap of $53.73 billion, a P/E ratio of 21.56, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $358.89 and a 12-month high of $577.00. The firm has a fifty day simple moving average of $531.24 and a two-hundred day simple moving average of $467.70.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. Ameriprise Financial's dividend payout ratio (DPR) is 22.73%.

Insider Buying and Selling

In related news, 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 value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % 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, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 over the last ninety days. Corporate insiders own 0.96% 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.