Lord Abbett & CO. LLC Has $175.99 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lord Abbett & CO. LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,591 shares of the financial services provider’s stock after selling 60,278 shares during the quarter. Lord Abbett & CO. LLC owned 0.39% of Ameriprise Financial worth $175,987,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its stake in shares of Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after acquiring an additional 24,968 shares in the last quarter. Empowered Funds LLC grew its position in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Ameriprise Financial by 390.2% during the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares during the period. SpiderRock Advisors LLC raised its position in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $458,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction 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. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $549.79 on Friday. The stock has a market cap of $53.34 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50 day simple moving average of $538.41 and a 200 day simple moving average of $471.16. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued 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 dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Ameriprise Financial Company 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.