Trexquant Investment LP Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Trexquant Investment LP increased its holdings in Ameriprise Financial by 107.6%, purchasing an additional 3,644 shares, bringing their total ownership to 7,032 shares valued at $3,404,000.
• Ameriprise Financial reported earnings of $9.11 per share for the last quarter, exceeding analysts' expectations of $9.00, and achieved a revenue of $4.49 billion, up 2.2% year-over-year.
• The company declared a quarterly dividend of $1.60, reflecting an annualized dividend of $6.40 with a yield of 1.2%.

Trexquant Investment LP lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 107.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,032 shares of the financial services provider's stock after acquiring an additional 3,644 shares during the period. Trexquant Investment LP's holdings in Ameriprise Financial were worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $26,000. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $29,000. Sunbeam Capital Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $36,000. Finally, TCTC Holdings LLC increased its position in shares of Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 49 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMP shares. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $534.71.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $22.47 during trading on Friday, reaching $489.44. 678,083 shares of the company's stock traded hands, compared to its average volume of 379,614. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market cap of $46.14 billion, a PE ratio of 15.23, a P/E/G ratio of 1.04 and a beta of 1.27. The company has a 50-day simple moving average of $520.22 and a 200-day simple moving average of $504.09.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $8.72 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

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.