The Manufacturers Life Insurance Company Has $114.35 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

The Manufacturers Life Insurance Company lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 144.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 243,385 shares of the financial services provider’s stock after acquiring an additional 143,648 shares during the period. The Manufacturers Life Insurance Company owned 0.25% of Ameriprise Financial worth $114,345,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. DiNuzzo Private Wealth Inc. increased its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in Ameriprise Financial in the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial in the second quarter worth $29,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 0.7 %

Shares of NYSE:AMP opened at $574.12 on Wednesday. The company’s fifty day moving average is $514.51 and its 200-day moving average is $460.28. 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 52 week low of $345.43 and a 52 week high of $577.00. The company has a market capitalization of $55.70 billion, a PE ratio of 22.04, a P/E/G ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target 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. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company 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 reduced their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William Davies sold 8,700 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 in the last three months. Corporate insiders own 0.96% of the company’s stock.

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.