Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lowered by M&T Bank Corp

M&T Bank Corp cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 45,632 shares of the financial services provider’s stock after selling 1,922 shares during the quarter. M&T Bank Corp’s holdings in Ameriprise Financial were worth $21,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP boosted its position in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after buying an additional 24,968 shares during the period. Empowered Funds LLC raised its stake in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC boosted its position in Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 1,867 shares during the period. Aljian Capital Management LLC bought a new position in shares of Ameriprise Financial in the third quarter worth $458,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ameriprise Financial by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock valued at $8,725,000 after purchasing an additional 1,191 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMP. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price target 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. Finally, Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm’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 $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $532.12 on Friday. The company has a market capitalization of $51.62 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $542.85 and a 200-day moving average of $475.07. Ameriprise Financial, Inc. has a one year low of $368.41 and a one year high of $577.00.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. 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.