Kovitz Investment Group Partners LLC Acquires 1,471 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kovitz Investment Group Partners LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 58,992 shares of the financial services provider’s stock after purchasing an additional 1,471 shares during the period. Kovitz Investment Group Partners LLC owned 0.06% of Ameriprise Financial worth $27,016,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legacy Capital Wealth Partners LLC grew its holdings in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares during the period. Ledyard National Bank boosted its holdings in shares of Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares during the period. Heartland Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in shares of Ameriprise Financial by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 25 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMP shares. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Stock Up 0.7 %

Shares of AMP opened at $565.33 on Friday. Ameriprise Financial, Inc. has a one year low of $349.90 and a one year high of $577.00. The company has a market cap of $54.85 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.99 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. The firm has a 50 day simple moving average of $529.39 and a two-hundred day simple moving average of $466.38.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s 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 owns 6,409 shares of the company’s stock, valued at $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 sold a total of 21,715 shares of company stock worth $11,983,436 over the last three months. Corporate insiders own 0.73% of the company’s stock.

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.