Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,964 shares of the financial services provider’s stock after selling 605 shares during the period. Fifth Third Bancorp’s holdings in Ameriprise Financial were worth $3,175,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMP. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Maj Invest Holding A S purchased a new position in Ameriprise Financial in the 3rd quarter worth approximately $98,742,000. Assenagon Asset Management S.A. grew its position in Ameriprise Financial by 816.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after acquiring an additional 195,271 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth $456,890,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $503.22.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $560.97 on Tuesday. The stock’s 50 day simple moving average is $548.23 and its 200 day simple moving average is $494.21. Ameriprise Financial, Inc. has a 12-month low of $378.05 and a 12-month high of $577.00. The firm has a market cap of $54.42 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

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.