Victory Capital Management Inc. Buys 16,845 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Victory Capital Management Inc. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,203 shares of the financial services provider’s stock after buying an additional 16,845 shares during the quarter. Victory Capital Management Inc. owned 0.24% of Ameriprise Financial worth $102,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its holdings in Ameriprise Financial by 10.5% during the fourth quarter. Private Advisor Group LLC now owns 6,120 shares of the financial services provider’s stock valued at $2,324,000 after purchasing an additional 583 shares during the period. Lincoln National Corp grew its holdings in shares of Ameriprise Financial by 35.8% in the 4th quarter. Lincoln National Corp now owns 2,588 shares of the financial services provider’s stock valued at $983,000 after buying an additional 682 shares during the period. Wealthspire Advisors LLC increased its position in shares of Ameriprise Financial by 27.1% in the 4th quarter. Wealthspire Advisors LLC now owns 1,331 shares of the financial services provider’s stock valued at $506,000 after buying an additional 284 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $1,535,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in Ameriprise Financial during the 4th quarter worth $222,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMP shares. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Performance

AMP opened at $430.41 on Friday. The business’s 50-day simple moving average is $428.01 and its 200 day simple moving average is $425.74. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $450.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $42.75 billion, a PE ratio of 14.65, a PEG ratio of 0.78 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.44 EPS. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

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.