Plato Investment Management Ltd Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Plato Investment Management Ltd boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,992 shares of the financial services provider’s stock after acquiring an additional 202 shares during the quarter. Plato Investment Management Ltd’s holdings in Ameriprise Financial were worth $3,282,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BDF Gestion acquired a new stake in Ameriprise Financial during the second quarter valued at $2,836,000. Capital World Investors boosted its position in Ameriprise Financial by 95.0% during the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after acquiring an additional 32,930 shares during the last quarter. Cetera Investment Advisers lifted its stake in Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after purchasing an additional 26,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock worth $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock valued at $24,375,000 after purchasing an additional 45,420 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.3 %

NYSE:AMP opened at $559.89 on Thursday. The stock has a market capitalization of $54.31 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.97 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 stock’s fifty day moving average is $489.13 and its two-hundred day moving average is $450.11. Ameriprise Financial, Inc. has a 52 week low of $338.00 and a 52 week high of $569.47.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.06%. Ameriprise Financial’s payout ratio is 22.73%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMP shares. 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 report on Tuesday, October 29th. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased 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 shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $487.67.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $15,829,445 over the last 90 days. 0.73% of the stock is owned by insiders.

Ameriprise Financial 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.