Associated Banc Corp Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Associated Banc Corp decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,926 shares of the financial services provider’s stock after selling 641 shares during the quarter. Associated Banc Corp owned 0.05% of Ameriprise Financial worth $23,456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew 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 purchasing an additional 110,319 shares during the last quarter. Legal & General Group Plc grew its stake in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after acquiring an additional 11,060 shares during the last quarter. AGF Management Ltd. increased its holdings in Ameriprise Financial by 35.4% during 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 in the last quarter. Epoch Investment Partners Inc. raised its position 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 acquiring an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of 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. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.0 %

Shares of Ameriprise Financial stock traded down $0.22 on Monday, hitting $571.85. 16,525 shares of the company’s stock traded hands, compared to its average volume of 467,910. The stock has a market cap of $55.48 billion, a P/E ratio of 21.96, a PEG ratio of 1.00 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. The firm’s 50-day moving average is $509.57 and its 200 day moving average is $458.30. Ameriprise Financial, Inc. has a 52-week low of $345.43 and a 52-week high of $576.85.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on AMP. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group downgraded shares of 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 note on Thursday, September 26th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the firm’s 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 directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on 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 sale, 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 have sold 30,415 shares of company stock worth $15,829,445 over the last ninety days. 0.96% of the stock is owned by insiders.

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.