Martingale Asset Management L P Sells 1,897 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Martingale Asset Management L P reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,309 shares of the financial services provider’s stock after selling 1,897 shares during the quarter. Martingale Asset Management L P’s holdings in Ameriprise Financial were worth $6,253,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMP. Maj Invest Holding A S bought a new stake in Ameriprise Financial during the third quarter worth approximately $98,742,000. The Manufacturers Life Insurance Company increased its stake in Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after acquiring an additional 143,648 shares during the last quarter. AGF Management Ltd. increased its stake in Ameriprise Financial by 35.4% during the second 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Ameriprise Financial during the third quarter valued at approximately $456,890,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 0.3 %

Ameriprise Financial stock opened at $573.74 on Friday. The business has a fifty day moving average of $521.35 and a two-hundred day moving average of $462.81. 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 has a market cap of $55.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.00 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $347.74 and a twelve month high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on 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 sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on 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 sale, the insider now owns 4,669 shares of the company’s stock, 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. In the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMP. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. 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. Finally, 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 note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $487.67.

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.