Assenagon Asset Management S.A. Buys 195,271 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Assenagon Asset Management S.A. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 816.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,180 shares of the financial services provider’s stock after acquiring an additional 195,271 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.23% of Ameriprise Financial worth $116,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMP. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $31,000. Country Trust Bank lifted its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $45,000. Friedenthal Financial purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth about $58,000. Finally, Trifecta Capital Advisors LLC increased its stake in shares of Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMP shares. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group cut 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 note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $494.89.

Ameriprise Financial Trading Up 1.7 %

Shares of NYSE:AMP opened at $526.21 on Wednesday. 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 1 year low of $368.41 and a 1 year high of $577.00. The company has a market cap of $51.05 billion, a P/E ratio of 20.20, a PEG ratio of 0.96 and a beta of 1.36. The stock’s fifty day moving average price is $549.04 and its 200-day moving average price is $487.35.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In other 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 transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 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 insiders.

About Ameriprise Financial

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.