Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 35.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,908 shares of the financial services provider’s stock after purchasing an additional 1,021 shares during the period. Vinva Investment Management Ltd’s holdings in Ameriprise Financial were worth $1,831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 110,319 shares during the period. Legal & General Group Plc raised its holdings in shares of Ameriprise Financial by 1.4% during 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. raised its holdings in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares during the period. 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 worth $195,894,000 after purchasing an additional 17,312 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Ameriprise Financial by 25.3% during the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock worth $182,831,000 after purchasing an additional 86,315 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on AMP. Keefe, Bruyette & Woods lifted their price objective 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. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. 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 research report on Friday, October 25th. UBS Group lifted their price objective 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. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Stock Performance

Shares of AMP opened at $573.74 on Friday. The firm’s 50 day moving average is $521.35 and its 200-day moving average is $462.81. The stock has a market capitalization of $55.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 12-month low of $347.74 and a 12-month high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 1.03%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction 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 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 in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last quarter. Insiders own 0.73% of the company’s stock.

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.