Conning Inc. Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Conning Inc. increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,722 shares of the financial services provider’s stock after acquiring an additional 2,412 shares during the period. Ameriprise Financial makes up about 1.3% of Conning Inc.’s investment portfolio, making the stock its 23rd biggest position. Conning Inc. owned approximately 0.08% of Ameriprise Financial worth $39,333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMP. Ledyard National Bank raised its stake in shares of Ameriprise Financial by 3.2% in the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 23 shares during the period. Heartland Bank & Trust Co raised its position in Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 24 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares in the last quarter. Signaturefd LLC boosted its position in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 26 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

AMP opened at $507.18 on Friday. The company has a market capitalization of $49.80 billion, a P/E ratio of 19.47, a PEG ratio of 0.89 and a beta of 1.34. The company has a 50-day moving average of $474.94 and a 200-day moving average of $443.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $321.28 and a 1-year high of $524.89.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Analyst Ratings Changes

Several research firms recently commented on AMP. 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 research report on Tuesday, October 29th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley lifted 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. UBS Group upped 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. Finally, The Goldman Sachs Group lowered 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 research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $487.67.

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.