Quantbot Technologies LP reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 55.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774 shares of the financial services provider's stock after selling 951 shares during the period. Quantbot Technologies LP's holdings in Ameriprise Financial were worth $375,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AMP. 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 valued at $413,000 after acquiring an additional 50 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Ameriprise Financial by 9.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,791 shares of the financial services provider's stock worth $1,486,000 after buying an additional 251 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $1,728,000. Quarry LP raised its holdings in Ameriprise Financial by 148.6% in the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after buying an additional 52 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Ameriprise Financial by 19.8% in the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after buying an additional 209,549 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.
Ameriprise Financial Stock Performance
Shares of AMP traded down $1.17 during mid-day trading on Monday, hitting $515.46. 418,838 shares of the company traded hands, compared to its average volume of 382,908. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50-day moving average price of $521.88 and a two-hundred day moving average price of $505.19. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.10 and a beta of 1.27.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The company 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 firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $8.72 earnings per share. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on AMP shares. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Raymond James Financial increased their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and a consensus target price of $534.71.
Get Our Latest Stock Analysis on AMP
Insider Transactions at Ameriprise Financial
In related news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.73% of the company's stock.
Ameriprise Financial Profile
(
Free Report)
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.
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