Erste Asset Management GmbH Buys New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Erste Asset Management GmbH bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 48,795 shares of the financial services provider's stock, valued at approximately $22,863,000. Erste Asset Management GmbH owned about 0.05% of Ameriprise Financial at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Tidal Investments LLC raised its position in Ameriprise Financial by 9.3% in the 1st quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider's stock valued at $1,382,000 after purchasing an additional 268 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider's stock valued at $15,048,000 after purchasing an additional 26,442 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Ameriprise Financial by 55.6% in the 1st quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider's stock valued at $4,779,000 after purchasing an additional 3,895 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of Ameriprise Financial by 6.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 1,716 shares of the financial services provider's stock worth $733,000 after purchasing an additional 111 shares during the last quarter. Finally, Marcum Wealth LLC grew its stake in shares of Ameriprise Financial by 7.4% during the second quarter. Marcum Wealth LLC now owns 565 shares of the financial services provider's stock worth $241,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the business's 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 sale, the insider now directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated 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 directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

NYSE:AMP traded up $2.06 during mid-day trading on Friday, hitting $573.97. 214,024 shares of the company's stock traded hands, compared to its average volume of 468,561. Ameriprise Financial, Inc. has a 1 year low of $347.74 and a 1 year high of $577.00. The company has a market cap of $55.68 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The firm's 50 day simple moving average is $521.35 and its 200 day simple moving average is $463.00.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial's payout ratio is currently 22.73%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Royal Bank of Canada upped their target price 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. UBS Group lifted their price target on shares of 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 price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Morgan Stanley lifted 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $487.67.

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.