Victory Capital Management Inc. Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Victory Capital Management Inc. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 248,192 shares of the financial services provider’s stock after acquiring an additional 8,989 shares during the period. Victory Capital Management Inc.’s holdings in Ameriprise Financial were worth $116,603,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMP. Legacy Capital Wealth Partners LLC grew its position in shares of 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 acquiring an additional 20 shares during the period. Ledyard National Bank lifted its position in 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 purchasing an additional 23 shares in the last quarter. Heartland Bank & Trust Co grew its holdings in 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 purchasing an additional 24 shares during the period. Portside Wealth Group LLC increased its position in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after buying an additional 25 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Ameriprise Financial by 0.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 26 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $561.21 on Wednesday. The firm has a market cap of $54.44 billion, a PE ratio of 21.54, a PEG ratio of 0.96 and a beta of 1.34. The stock has a 50 day moving average of $486.74 and a 200 day moving average of $449.04. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12 month low of $333.96 and a 12 month high of $569.47.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods upped their target price 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 increased their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average 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.