Ameriprise Financial, Inc. (NYSE:AMP) Holdings Boosted by Versant Capital Management Inc

Versant Capital Management Inc grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 240.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143 shares of the financial services provider’s stock after purchasing an additional 101 shares during the period. Versant Capital Management Inc’s holdings in Ameriprise Financial were worth $76,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMP. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. The Manufacturers Life Insurance Company grew its stake in shares of Ameriprise Financial by 144.0% in the 3rd 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 in the last quarter. AGF Management Ltd. increased its stake in shares of Ameriprise Financial by 35.4% during the 2nd 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.1 %

Shares of NYSE AMP opened at $535.84 on Friday. 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 cap of $51.98 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. Ameriprise Financial, Inc. has a 12-month low of $368.41 and a 12-month high of $577.00. The firm’s 50-day simple moving average is $546.91 and its 200 day simple moving average is $482.25.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on 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 completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last quarter. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMP. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley increased 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 note on Thursday, October 17th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.