Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,840 shares of the financial services provider’s stock after selling 645 shares during the quarter. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of Ameriprise Financial in the first quarter valued at about $108,938,000. Maj Invest Holding A S purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $98,742,000. AGF Management Ltd. boosted its position in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after buying an additional 110,319 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Ameriprise Financial during the 3rd quarter worth approximately $456,890,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lowered 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. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $487.67.

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction 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 $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 completion of the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % 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 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $562.44 on Friday. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.97 and a beta of 1.34. The stock has a 50-day moving average of $496.55 and a 200 day moving average of $452.94. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $342.96 and a twelve month high of $569.47.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

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.