KBC Group NV Acquires 4,197 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

KBC Group NV increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% during the third quarter, HoldingsChannel.com reports. The fund owned 113,115 shares of the financial services provider’s stock after buying an additional 4,197 shares during the quarter. KBC Group NV’s holdings in Ameriprise Financial were worth $53,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMP. Concurrent Investment Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $217,000. Orion Portfolio Solutions LLC grew its position in Ameriprise Financial by 3.6% during the first quarter. Orion Portfolio Solutions LLC now owns 7,377 shares of the financial services provider’s stock valued at $3,235,000 after buying an additional 254 shares during the period. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 18.6% during 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 buying an additional 603,267 shares during the last quarter. TIAA Trust National Association raised its position in Ameriprise Financial by 3.0% in the first quarter. TIAA Trust National Association now owns 3,062 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 88 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in Ameriprise Financial in the first quarter valued at about $1,515,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock valued at $15,829,445. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.3 %

AMP stock opened at $561.54 on Friday. The stock has a 50-day simple moving average of $491.47 and a two-hundred day simple moving average of $450.87. Ameriprise Financial, Inc. has a twelve month low of $342.20 and a twelve month high of $569.47. The firm has a market capitalization of $54.47 billion, a PE ratio of 21.56, a PEG ratio of 0.97 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.