Geode Capital Management LLC Acquires 31,158 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Geode Capital Management LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,609,486 shares of the financial services provider’s stock after purchasing an additional 31,158 shares during the quarter. Geode Capital Management LLC’s holdings in Ameriprise Financial were worth $1,222,943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. DiNuzzo Private Wealth Inc. increased its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the second quarter worth $26,000. Mascoma Wealth Management LLC raised its stake in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Ameriprise Financial during the second quarter worth about $29,000. Finally, Oakworth Capital Inc. acquired a new stake in Ameriprise Financial during the third quarter worth about $31,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on AMP shares. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $487.67.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last ninety days. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $546.23 on Wednesday. The firm has a market capitalization of $52.99 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $532.92 and its 200-day moving average price is $468.55. Ameriprise Financial, Inc. has a 12 month low of $358.89 and a 12 month high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given 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 yield of 1.08%. Ameriprise Financial’s dividend payout ratio is presently 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.