Victory Capital Management Inc. Acquires 8,989 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Victory Capital Management Inc. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,192 shares of the financial services provider's stock after purchasing an additional 8,989 shares during the period. Victory Capital Management Inc. owned 0.25% of Ameriprise Financial worth $116,603,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider's stock worth $1,685,436,000 after buying an additional 603,267 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock worth $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Legal & General Group Plc grew its holdings in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock worth $351,685,000 after purchasing an additional 11,060 shares during the period. AGF Management Ltd. increased its stake in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock valued at $195,894,000 after purchasing an additional 17,312 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. 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. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $487.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction 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 owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Down 0.3 %

AMP stock traded down $1.42 during trading on Wednesday, reaching $559.89. The stock had a trading volume of 467,756 shares, compared to its average volume of 469,547. Ameriprise Financial, Inc. has a one year low of $338.00 and a one year high of $569.47. The company's 50 day moving average is $489.13 and its two-hundred day moving average is $450.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $54.31 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 0.97 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial's payout ratio is 22.73%.

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.