Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 46.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,126 shares of the financial services provider's stock after selling 31,119 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Ameriprise Financial were worth $16,972,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AMP. Dimensional Fund Advisors LP lifted its holdings 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 worth $482,588,000 after purchasing an additional 110,319 shares during the last quarter. Legal & General Group Plc increased its position in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock worth $351,685,000 after buying an additional 11,060 shares during the period. AGF Management Ltd. lifted its holdings in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock worth $215,584,000 after buying an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Ameriprise Financial by 3.9% in 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 acquiring an additional 17,312 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Ameriprise Financial by 25.3% in the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider's stock valued at $182,831,000 after acquiring an additional 86,315 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction on 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 directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Corporate insiders own 0.73% of the company's stock.
Shares of AMP stock opened at $573.97 on Friday. The business has a fifty day simple moving average of $521.35 and a 200 day simple moving average of $463.00. The company has a market cap of $55.68 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.00 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. Ameriprise Financial, Inc. has a twelve month low of $347.74 and a twelve month high of $577.00.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued 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 1.03%. Ameriprise Financial's dividend payout ratio (DPR) is currently 22.73%.
A number of analysts have issued reports on AMP shares. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. The Goldman Sachs Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada raised 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. 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 research report on Tuesday, October 29th. Finally, UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $487.67.
Read Our Latest Report on AMP
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.
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