Magnetar Financial LLC Purchases Shares of 9,661 Ameriprise Financial, Inc. $AMP

Key Points

• Magnetar Financial LLC has acquired a new stake in Ameriprise Financial, purchasing 9,661 shares valued at approximately $4.7 million.
• Ameriprise Financial's stock performance remains solid, with a recent quarterly earnings report showing EPS of $9.11, exceeding estimates, and a revenue increase of 2.2% year-over-year.
• Analysts have mixed ratings on Ameriprise Financial, with price target increases from firms like Keefe, Bruyette & Woods and Raymond James, reflecting a consensus price target of $534.71.

Magnetar Financial LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,661 shares of the financial services provider's stock, valued at approximately $4,677,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. TD Capital Management LLC lifted its stake in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $29,000. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $31,000. Finally, WPG Advisers LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Up 0.8%

Shares of NYSE AMP traded up $4.03 during midday trading on Thursday, reaching $511.23. 91,394 shares of the stock were exchanged, compared to its average volume of 496,938. The company has a 50 day simple moving average of $521.26 and a 200 day simple moving average of $505.03. The stock has a market capitalization of $48.20 billion, a P/E ratio of 15.90, a PEG ratio of 1.10 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. 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 posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm earned $8.72 EPS. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMP shares. Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $534.71.

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.