GAMMA Investing LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

GAMMA Investing LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,284 shares of the financial services provider’s stock after acquiring an additional 182 shares during the quarter. GAMMA Investing LLC’s holdings in Ameriprise Financial were worth $2,281,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Ameriprise Financial by 240.5% during the 4th quarter. Versant Capital Management Inc now owns 143 shares of the financial services provider’s stock valued at $76,000 after buying an additional 101 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Copley Financial Group Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth $467,000. Oddo BHF Asset Management Sas bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $1,703,000. Finally, Old North State Trust LLC raised its stake in shares of Ameriprise Financial by 1.0% in the 3rd quarter. Old North State Trust LLC now owns 2,369 shares of the financial services provider’s stock valued at $1,113,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $529.96 on Friday. The firm’s 50 day moving average is $546.29 and its two-hundred day moving average is $481.53. The firm has a market capitalization of $51.41 billion, a P/E ratio of 20.34, a PEG ratio of 0.96 and a beta of 1.34. 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, Inc. has a 52 week low of $368.41 and a 52 week high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMP. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.