Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,907 shares of the financial services provider’s stock after selling 297 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Ameriprise Financial were worth $1,366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares in the last quarter. Empirical Finance LLC raised its position in shares of Ameriprise Financial by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 3,623 shares of the financial services provider’s stock worth $1,702,000 after purchasing an additional 69 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Ameriprise Financial by 7.0% in the 3rd quarter. CIBC Asset Management Inc now owns 14,624 shares of the financial services provider’s stock worth $6,871,000 after buying an additional 958 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Ameriprise Financial by 0.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,513 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 26 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Ameriprise Financial by 1.3% during the third quarter. Metis Global Partners LLC now owns 3,443 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred 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 owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $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 ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.2 %

AMP stock opened at $562.44 on Friday. Ameriprise Financial, Inc. has a one year low of $342.96 and a one year high of $569.47. The firm has a market cap of $54.57 billion, a PE ratio of 21.59, a PEG ratio of 0.97 and a beta of 1.34. The firm’s 50 day moving average price is $496.55 and its 200-day moving average price is $452.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley boosted their price target 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 upped their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada upped their price objective 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. Finally, UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $487.67.

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.