8,925 Shares in Ameriprise Financial, Inc. $AMP Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent filing with the SEC. The firm acquired 8,925 shares of the financial services provider’s stock, valued at approximately $4,384,000.

A number of other large investors also recently bought and sold shares of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth $693,736,000. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after acquiring an additional 446,080 shares during the period. Federated Hermes Inc. raised its holdings in Ameriprise Financial by 22.4% during the second quarter. Federated Hermes Inc. now owns 747,083 shares of the financial services provider’s stock worth $398,741,000 after purchasing an additional 136,761 shares in the last quarter. Hsbc Holdings PLC lifted its position in Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after purchasing an additional 112,784 shares during the period. Finally, Vanguard Group Inc. lifted its position in Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMP shares. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada lowered their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. BMO Capital Markets started coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $528.75.

Ameriprise Financial Trading Down 2.3%

NYSE:AMP opened at $496.29 on Monday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $484.70 and a 200-day simple moving average of $492.59. The company has a market capitalization of $46.11 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $9.02 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.