Vestcor Inc Purchases 2,289 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Vestcor Inc lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 67.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,667 shares of the financial services provider's stock after purchasing an additional 2,289 shares during the quarter. Vestcor Inc's holdings in Ameriprise Financial were worth $2,662,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMP. Bridgewater Associates LP boosted its holdings in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock worth $23,730,000 after acquiring an additional 24,968 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock worth $3,768,000 after purchasing an additional 1,329 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ameriprise Financial by 390.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider's stock valued at $24,375,000 after purchasing an additional 45,420 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Ameriprise Financial by 23.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider's stock valued at $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Finally, SpiderRock Advisors LLC raised its holdings in Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider's stock worth $1,521,000 after buying an additional 1,867 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. This represents a 33.24 % 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. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares of the company's stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 in the last quarter. Insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

AMP stock traded up $4.46 during midday trading on Wednesday, hitting $550.80. The company's stock had a trading volume of 428,631 shares, compared to its average volume of 471,081. Ameriprise Financial, Inc. has a 1 year low of $365.44 and a 1 year high of $577.00. The stock has a market cap of $53.44 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 0.98 and a beta of 1.34. The stock's 50-day moving average price is $534.38 and its 200 day moving average price is $469.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Analyst Upgrades and Downgrades

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

About Ameriprise Financial

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.