Ameriprise Financial, Inc. $AMP Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in Ameriprise Financial by 797.9% in the first quarter, now owning 1,679 shares valued at approximately $813,000.
• Ameriprise Financial reported an EPS of $9.11 for the last quarter, exceeding analysts' estimates and generating a revenue of $4.49 billion, reflecting a 2.2% year-over-year growth.
• Recent analysts' ratings for Ameriprise Financial include a range of recommendations from Strong Buy to Sell, with a consensus target price of $534.71.

AlphaQuest LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 797.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,679 shares of the financial services provider's stock after purchasing an additional 1,492 shares during the period. AlphaQuest LLC's holdings in Ameriprise Financial were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth approximately $36,000. Quarry LP grew its stake in shares of Ameriprise Financial by 148.6% during the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC increased its holdings in shares of Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 49 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE AMP traded down $1.93 during mid-day trading on Friday, hitting $514.70. The stock had a trading volume of 198,354 shares, compared to its average volume of 499,204. The firm's 50 day moving average is $521.76 and its 200 day moving average is $505.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $48.52 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.10 and a beta of 1.24. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.72 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Finally, William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $534.71.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Company 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.