Versor Investments LP Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Versor Investments LP raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 84.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,099 shares of the financial services provider’s stock after acquiring an additional 503 shares during the quarter. Versor Investments LP’s holdings in Ameriprise Financial were worth $516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC increased its holdings in Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 20 shares during the period. Ledyard National Bank increased its stake in shares of Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after buying an additional 23 shares during the period. Heartland Bank & Trust Co raised its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 24 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after acquiring an additional 26 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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 company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $487.67.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,615,701.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $559.89 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $338.00 and a 1 year high of $569.47. The firm’s 50-day moving average is $489.13 and its 200 day moving average is $450.11. The stock has a market cap of $54.31 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 0.97 and a beta of 1.34. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

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.