Kovitz Investment Group Partners LLC Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Kovitz Investment Group Partners LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 58,992 shares of the financial services provider's stock after acquiring an additional 1,471 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.06% of Ameriprise Financial worth $27,016,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. grew its position in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the second quarter valued at $26,000. Mascoma Wealth Management LLC increased its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 40 shares during the period. Hantz Financial Services Inc. purchased a new position in Ameriprise Financial in the 2nd quarter worth $29,000. Finally, Oakworth Capital Inc. acquired a new stake in Ameriprise Financial during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction 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 sale, the insider now owns 4,669 shares of the company's stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, 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 in the last 90 days. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

AMP stock traded down $3.66 during midday trading on Friday, hitting $561.55. 331,754 shares of the stock traded hands, compared to its average volume of 457,116. Ameriprise Financial, Inc. has a 1-year low of $350.37 and a 1-year high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock's fifty day simple moving average is $529.39 and its 200-day simple moving average is $466.38. The firm has a market cap of $54.48 billion, a P/E ratio of 21.55, a PEG ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm 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 of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. 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. The Goldman Sachs Group lowered 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. Keefe, Bruyette & Woods upped their price objective on shares of 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 increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, 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.