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

Key Points

• Quantbot Technologies LP initiated a position in Ameriprise Financial by purchasing 12,847 shares valued at approximately $5.9 million. Institutional investors collectively own 83.95% of AMP’s outstanding shares.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also paid a quarterly dividend of $1.70 per share, representing a 1.2% yield.
• Analyst sentiment is moderately bullish, with an average price target of $555.33; however, insiders have sold nearly 30,000 shares worth $16.3 million over the past 90 days.

Quantbot Technologies LP bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,847 shares of the financial services provider's stock, valued at approximately $5,894,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMP. State Street Corp grew its position in shares of Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Norges Bank purchased a new position in Ameriprise Financial during the 4th quarter valued at approximately $742,438,000. Boston Partners increased its stake in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock worth $586,083,000 after acquiring an additional 13,172 shares during the last quarter. AQR Capital Management LLC increased its stake in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after acquiring an additional 19,731 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dawn M. Brockman sold 472 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $556.56 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $50.03 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The firm has a 50-day moving average of $517.67 and a two-hundred day moving average of $482.00. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the prior year, the business earned $9.11 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid 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 was Monday, August 3rd. Ameriprise Financial's payout ratio is 16.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMP shares. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Moderate Buy" and an average target price of $555.33.

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.

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