Atlantic Union Bankshares Corp Buys 879 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Atlantic Union Bankshares Corp increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,932 shares of the financial services provider’s stock after purchasing an additional 879 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Ameriprise Financial were worth $4,666,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMP. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $98,742,000. The Manufacturers Life Insurance Company lifted its holdings in Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after buying an additional 143,648 shares during the period. AGF Management Ltd. boosted 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 acquiring an additional 131,844 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ameriprise Financial by 10.8% during the 2nd 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 during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $456,890,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley raised their price target 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. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered 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. Finally, UBS Group raised their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Stock Performance

AMP stock opened at $571.91 on Friday. The business’s 50-day moving average price is $519.09 and its two-hundred day moving average price is $461.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market cap of $55.48 billion, a PE ratio of 21.95, a P/E/G ratio of 1.00 and a beta of 1.34. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. 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 90 days. 0.73% of the stock is currently owned by company insiders.

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.