QRG Capital Management Inc. Acquires 1,834 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

QRG Capital Management Inc. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.3% during the third quarter, HoldingsChannel reports. The firm owned 24,031 shares of the financial services provider’s stock after purchasing an additional 1,834 shares during the period. QRG Capital Management Inc.’s holdings in Ameriprise Financial were worth $11,290,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AMP. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. Swedbank AB bought a new position in shares of Ameriprise Financial in the first quarter worth about $108,938,000. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial in the third quarter worth about $98,742,000. AGF Management Ltd. grew its position in 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. Finally, TD Asset Management Inc grew its position in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after buying an additional 111,973 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.2 %

Ameriprise Financial stock opened at $506.59 on Tuesday. The firm has a 50-day moving average of $476.24 and a 200-day moving average of $444.28. Ameriprise Financial, Inc. has a one year low of $329.16 and a one year high of $524.89. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.59. The company has a market cap of $49.74 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 0.89 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price 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 lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.