Teachers Insurance & Annuity Association of America Purchases New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Teachers Insurance & Annuity Association of America acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, Holdings Channel reports. The firm acquired 3,875 shares of the financial services provider’s stock, valued at approximately $1,821,000. Ameriprise Financial makes up about 2.8% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 7th biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. Vinva Investment Management Ltd boosted its position in shares of Ameriprise Financial by 35.4% in the third quarter. Vinva Investment Management Ltd now owns 3,908 shares of the financial services provider’s stock worth $1,831,000 after purchasing an additional 1,021 shares during the period. Financial Counselors Inc. raised its holdings in Ameriprise Financial by 1.8% during the 3rd quarter. Financial Counselors Inc. now owns 124,291 shares of the financial services provider’s stock valued at $58,393,000 after buying an additional 2,149 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Ameriprise Financial by 1.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,136 shares of the financial services provider’s stock worth $8,051,000 after acquiring an additional 300 shares during the last quarter. First Commonwealth Financial Corp PA boosted its holdings in Ameriprise Financial by 1.9% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 1,842 shares of the financial services provider’s stock valued at $865,000 after acquiring an additional 35 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in shares of Ameriprise Financial by 71.5% during the third quarter. CreativeOne Wealth LLC now owns 926 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 386 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMP. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. 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 report on Friday, October 25th. 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 dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Stock Performance

NYSE AMP traded down $2.10 on Thursday, reaching $571.91. The stock had a trading volume of 245,515 shares, compared to its average volume of 471,455. Ameriprise Financial, Inc. has a 12-month low of $345.43 and a 12-month high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $55.48 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. The business’s 50-day moving average price is $516.92 and its 200 day moving average price is $461.06.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.96% of the stock is currently owned by insiders.

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.