R Squared Ltd Buys Shares of 2,347 Ameriprise Financial, Inc. $AMP

R Squared Ltd bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,347 shares of the financial services provider’s stock, valued at approximately $1,153,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Winnow Wealth LLC bought a new stake in Ameriprise Financial in the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the second quarter worth approximately $36,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Ameriprise Financial by 60.4% during the second quarter. Hantz Financial Services Inc. now owns 85 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 32 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $486.88 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. The stock’s fifty day moving average is $499.40 and its 200 day moving average is $488.88. The stock has a market cap of $44.39 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.54 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Company Profile

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.