Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 22.5% in the third quarter, HoldingsChannel.com reports. The fund owned 3,760 shares of the financial services provider’s stock after purchasing an additional 690 shares during the quarter. Verition Fund Management LLC’s holdings in Ameriprise Financial were worth $1,766,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AMP. Atlantic Union Bankshares Corp grew its position in shares of Ameriprise Financial by 9.7% in the third quarter. Atlantic Union Bankshares Corp now owns 9,932 shares of the financial services provider’s stock valued at $4,666,000 after purchasing an additional 879 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in Ameriprise Financial during the third quarter valued at about $5,212,000. Teachers Insurance & Annuity Association of America purchased a new stake in Ameriprise Financial during the third quarter valued at about $1,821,000. Vinva Investment Management Ltd grew its position in Ameriprise Financial by 35.4% during the third quarter. Vinva Investment Management Ltd now owns 3,908 shares of the financial services provider’s stock valued at $1,831,000 after acquiring an additional 1,021 shares during the period. Finally, Financial Counselors Inc. grew its position in Ameriprise Financial by 1.8% during the third quarter. Financial Counselors Inc. now owns 124,291 shares of the financial services provider’s stock valued at $58,393,000 after acquiring an additional 2,149 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.7 %

NYSE:AMP opened at $561.33 on Friday. The company has a market capitalization of $54.46 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. Ameriprise Financial, Inc. has a one year low of $350.37 and a one year high of $577.00. The stock has a 50-day simple moving average of $529.39 and a 200 day simple moving average of $466.38. 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMP. Morgan Stanley increased their target price on 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 raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $487.67.

Insider Buying and Selling at Ameriprise Financial

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