Principal Financial Group Inc. Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Principal Financial Group Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,646 shares of the financial services provider’s stock after selling 11,016 shares during the period. Principal Financial Group Inc. owned approximately 0.32% of Ameriprise Financial worth $145,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMP. Quotient Wealth Partners LLC acquired a new stake in Ameriprise Financial during the second quarter worth about $209,000. New Millennium Group LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $1,416,000. Catalyst Financial Partners LLC raised its position in shares of Ameriprise Financial by 5.0% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,320 shares of the financial services provider’s stock valued at $564,000 after buying an additional 63 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Ameriprise Financial by 33.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 38,339 shares of the financial services provider’s stock valued at $16,378,000 after acquiring an additional 9,681 shares during the last quarter. Finally, Railway Pension Investments Ltd grew its position in Ameriprise Financial by 75.8% in the second quarter. Railway Pension Investments Ltd now owns 22,500 shares of the financial services provider’s stock worth $9,612,000 after acquiring an additional 9,700 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated 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 completion of the transaction, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 1.2 %

Shares of AMP opened at $532.12 on Friday. The company’s 50-day simple moving average is $542.85 and its 200-day simple moving average is $474.71. 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, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00. The stock has a market capitalization of $51.62 billion, a PE ratio of 20.43, a P/E/G ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.11%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of 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, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.