Point72 Asia Singapore Pte. Ltd. Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Point72 Asia Singapore Pte. Ltd. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 784.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,955 shares of the financial services provider’s stock after purchasing an additional 2,621 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Ameriprise Financial were worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC grew its holdings in Ameriprise Financial by 42.1% in the third quarter. Kestra Investment Management LLC now owns 2,433 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 721 shares during the last quarter. B&L Asset Management LLC acquired a new stake in shares of Ameriprise Financial during the third quarter worth $507,000. Erste Asset Management GmbH acquired a new stake in shares of Ameriprise Financial during the third quarter worth $22,863,000. Edgestream Partners L.P. acquired a new stake in shares of Ameriprise Financial during the third quarter worth $4,786,000. Finally, Verition Fund Management LLC lifted its stake in shares of Ameriprise Financial by 22.5% during the third quarter. Verition Fund Management LLC now owns 3,760 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 690 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.4 %

AMP stock opened at $573.97 on Monday. The stock has a market capitalization of $55.68 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.00 and a beta of 1.34. The firm has a 50-day simple moving average of $521.35 and a 200-day simple moving average of $463.17. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $347.74 and a 52 week high of $577.00.

Ameriprise Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

AMP has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group lifted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $487.67.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 4,669 shares of the company’s stock, 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. In the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. 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.