12,847 Shares in Ameriprise Financial, Inc. $AMP Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,847 shares of the financial services provider’s stock, valued at approximately $5,894,000.

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC increased its holdings in shares of Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial in the second quarter worth about $313,000. Finally, Gabelli Funds LLC raised its stake in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Activity

In related news, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares in the company, valued at $3,656,793. The trade was a 54.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last quarter. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Up 1.7%

Shares of AMP opened at $556.56 on Friday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $50.03 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.75 and a beta of 1.14. The stock’s 50-day moving average price is $517.67 and its 200-day moving average price is $482.00.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $9.11 earnings per share. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

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.