Quantinno Capital Management LP lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 47.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,715 shares of the financial services provider's stock after purchasing an additional 2,815 shares during the quarter. Quantinno Capital Management LP's holdings in Ameriprise Financial were worth $4,095,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the second quarter valued at $26,000. Mascoma Wealth Management LLC boosted its stake in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after buying an additional 40 shares during the period. Hantz Financial Services Inc. purchased a new position in Ameriprise Financial during the second quarter worth $29,000. Finally, Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the third quarter worth $31,000. 83.95% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. UBS Group lifted their price objective 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. Royal Bank of Canada lifted 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. Morgan Stanley lifted their price objective 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. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, 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 note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $487.67.
Read Our Latest Analysis on AMP
Shares of AMP opened at $561.55 on Monday. 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 has a fifty day moving average price of $531.24 and a 200-day moving average price of $467.70. The firm has a market capitalization of $54.48 billion, a P/E ratio of 21.56, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $350.37 and a 12-month high of $577.00.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 payout ratio is currently 22.73%.
In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business'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 transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares of the company's stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last three months. 0.73% of the stock is owned by corporate insiders.
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.
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