Atlantic Union Bankshares Corp Has $4.67 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Atlantic Union Bankshares Corp lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,932 shares of the financial services provider’s stock after acquiring an additional 879 shares during the period. Atlantic Union Bankshares Corp’s holdings in Ameriprise Financial were worth $4,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. BDF Gestion bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $2,836,000. Cetera Investment Advisers boosted its stake 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after purchasing an additional 5,692 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock valued at $24,375,000 after purchasing an additional 45,420 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

AMP stock opened at $571.91 on Friday. The firm has a market cap of $55.48 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. 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 stock has a 50-day moving average price of $519.09 and a 200-day moving average price of $461.83. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $577.00.

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of the business’s 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 of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMP shares. Keefe, Bruyette & Woods raised their target price 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. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One equities 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.