GSA Capital Partners LLP Invests $1.85 Million in Ameriprise Financial, Inc. $AMP

Key Points

• GSA Capital Partners initiated a new position in Ameriprise Financial during the fourth quarter, buying 3,781 shares valued at about $1.85 million.
• Ameriprise reported better-than-expected quarterly earnings, posting $11.26 per share versus the $10.21 consensus estimate, while revenue rose 9.7% year over year.
• The company raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently have a Hold consensus rating with an average price target of $543.22.

GSA Capital Partners LLP bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,781 shares of the financial services provider's stock, valued at approximately $1,854,000.

Other hedge funds have also modified their holdings of the company. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth approximately $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the second quarter worth approximately $36,000. Finally, Activest Wealth Management grew its position in shares of Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock worth $39,000 after acquiring an additional 70 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $463.56 on Wednesday. The firm's fifty day moving average price is $454.46 and its 200 day moving average price is $473.40. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $41.67 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm posted $9.50 EPS. Ameriprise Financial's quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a $1.70 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial's payout ratio is 16.91%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMP shares. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the stock a "strong-buy" rating in a research report on Wednesday, February 11th. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada restated an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $543.22.

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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