BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 43.8% in the third quarter, HoldingsChannel reports. The fund owned 56,811 shares of the financial services provider’s stock after selling 44,232 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Ameriprise Financial were worth $26,690,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AMP. Swedbank AB purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $108,938,000. Maj Invest Holding A S purchased a new position in Ameriprise Financial during the third quarter valued at $98,742,000. AGF Management Ltd. boosted its holdings in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ameriprise Financial in the third quarter worth $456,890,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related 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 value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s 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 sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, 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. Insiders sold a total of 30,415 shares of company stock worth $15,829,445 in the last three months. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $572.07 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $575.37. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.98 and a beta of 1.34. The business’s fifty day moving average price is $509.57 and its 200-day moving average price is $457.84.

Ameriprise Financial Announces Dividend

The company 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 of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.03%. Ameriprise Financial’s payout ratio is 22.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their target price 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. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $487.67.

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.