Intech Investment Management LLC Sells 144 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Intech Investment Management LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,279 shares of the financial services provider’s stock after selling 144 shares during the quarter. Intech Investment Management LLC’s holdings in Ameriprise Financial were worth $2,950,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Ameriprise Financial by 10.8% during the 2nd 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 period. Legal & General Group Plc lifted its position in shares of 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 worth $351,685,000 after purchasing an additional 11,060 shares during the period. AGF Management Ltd. boosted its stake in shares of 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 purchasing an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of 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 valued at $195,894,000 after buying an additional 17,312 shares during the period. Finally, Federated Hermes Inc. raised its stake in Ameriprise Financial by 25.3% in the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock worth $182,831,000 after buying an additional 86,315 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group boosted their target price 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. Morgan Stanley increased their price target on shares of 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, Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $487.67.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the 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 transaction, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale 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 that occurred 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 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. This trade represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,415 shares of company stock valued at $15,829,445 over the last ninety days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $572.07 on Friday. The company has a market capitalization of $55.50 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $575.37. 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 50 day moving average of $509.57 and a 200 day moving average of $458.07.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

About Ameriprise Financial

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.